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Slingsby reports full year profit on back of Coronavirus demand
StockMarketWire.com
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Slingsby, supplier of workplace and industrial products has reported a full-year operating profit (before exceptional items) of £1.3m, up greatly on 2019s result of £0.4m.
Sales too were up, totalling £21.8m. Group sales increased by around 11% on the back of demand for Coronavirus related products, as customers sought to continue or restart their operations compliantly. Like 2019, the board has been unable to recommend a final dividend for the year.
Group sales in Q1 of 2021 against the same period in 2020 increased by 8%. This improvement in sales offset the impact of a fall in gross margin leading to an unaudited profit before tax in Q1 2021 is in line with that achieved in the same period in 2020 of £0.1m.
The firm's board continues to believe that it would benefit from the appointment of new non-executive directors, although it is unable to proceed at present due to the Coronavirus restrictions.
Story provided by StockMarketWire.com
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