|
HC Slingsby PLC on Tuesday reported a fall in annual profit, as costs increased. HC Slingsby is a Shipley, England-based industrial and commercial equipment distributor. Pretax profit in 2023 fell to £357,000 from £485,000 a year earlier. Revenue climbed to £22.6 million from £21.6 million. In the year, distribution costs increased to £5.1 million from £4.4 million, whilst cost of sales climbed to £14.5 million from £14.1 million. HC Slingsby said that in the first quarter of 2024 sales in fell by 5% annually. It swung to a pretax loss of £140,000 from a profit of £120,000. Looking ahead, the company said: ‘The market remains competitive, and the board is cautious regarding the outlook. There remains uncertainty in the economy due to the risk of a prolonged recession in the UK, inflationary pressures (particularly in overhead costs) and the impact on the supply chain from the situation in the Red Sea. These pressures could result in a fall in demand for the group’s products.’ Shares in HC Slingsby were flat at 250.00 pence each in London on Tuesday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
