20th Aug 2021 15:35
HC Slingsby PLC - Shipley-based industrial and commercial equipment distributor - For the first half of 2021, pretax profit declines to GBP95,000 from GBP424,000 the same period a year before, on revenue which was down 4.8% year-on-year to GBP10.0 million from GBP10.5 million.
Profit performance was hurt by significant cost price increases across the company's product range, in addition to higher shipping costs and delays.
"The market remains competitive, and it remains unclear what impact the pandemic will have on demand going forward. The downward trend in gross margin is likely to persist for the remainder of the year, and there is also heightened potential for credit related issues should customers become insolvent," said Executive Chair Dominic Slingsby.
Due to the uncertain outlook, the board has not declared an interim dividend.
Current stock price: 210.00 pence, down 13%
Year-to-date change: down 16%
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Slingsby H.c