8th Apr 2020 16:52
(Alliance News) - Samuel Heath & Sons PLC, a manufacturer of taps, showers, bathroom accessories, on Wednesday warned that it will be extremely difficult to trade profitably in the year ending March 31, 2021, due to Covid-19 pandemic.
The company said that it has seen a material drop in order book size as a lot of customers have closed their operations and that it is finding difficult to source raw materials and components to manufacture products.
In line with the UK government guidance, the company's factory is currently still operating, although at reduced capacity. Its showroom at Chelsea Harbour Design Centre has temporarily closed, however.
Samuel Heath noted it has strong cash reserves for the time being.
Shares in the company were untraded at 250.00 pence each in London on Wednesday afternoon.
By Tapan Panchal; [email protected]
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