3rd Jun 2015 06:59
LONDON (Alliance News) - Home-safety products company Sprue Aegis PLC on Wednesday said it expects the first half to 2015 to be strong and said it anticipates meeting market forecasts for the full year.
Graham Whitworth, Sprue Aegis' chairman, in a statement ahead of the company's annual general meeting, said the first half of 2015 has been strong for the company, with record sales and operating profit in the period, even as the strength of sterling against the euro has created translation problems.
Despite the currency effect, the company said sales in Continental Europe are set to be significantly ahead year-on-year in the first half, ahead of its expectations, while sales in its other business units will be broadly in line with its predictions.
Whitworth said Sprue expects sales and operating profit to be weaker in the second half against the first, but said full-year results should meet market expectations.
The company also said it will start supply a new range of smoke and carbon monoxide detectors, under the AngelEye brand, to around 600 stores of an unnamed UK supermarket chain, which it expects to drive UK retail sales higher.
By Sam Unsted; [email protected]; @SamUAtAlliance
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