20th Sep 2013 08:04
LONDON (Alliance News) - H C Slingsby PLC Friday reduced its interim dividend as it swung to a pretax loss in the first half of the year, and warned that it's set for a full-year loss unless the weak trading it's experiencing picks up.
The company declared an interim dividend of 0.2 pence, down from 0.4 pence in the previous year.
For the half year ended June 30, the company posted revenues of GBP6.9 million, down from GBP7.5 million in the previous year. It reported a pretax loss of GBP32,000, compared with a profit of GBP203,000 in the previous year, as low levels of trading were exacerbated by decreases in public sector spending.
The industrial and commercial equipment company cautioned that it had not experienced a significant upturn in trading during the second half, and that if this trend continues it expects to incur a pretax loss for the year.
Its shares were trading down 2.9% at 425.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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