LONDON (Thomson Financial) - C H Bailey Plc. reported a wider full-year loss
and said, due to the severe downturn in world trade over the last 12 months, it
is difficult to predict what the next year will bring.
For the year to March 31 2008, its loss widened to 2.16 million pounds from
691,436 pounds while revenues rose to 11.46 million from 11.02 million.
The engineering and leisure group said although the level of enquiries for
its UK engineering companies increased in the second half, they did not convert
into confirmed sales and the improvement it had been expecting in the
performance of the engineering division in the second half of the year did not
materialise.
CH Bailey also said its Modular Automation International Ltd. (MAIL) unit
has not been meeting its sales targets as its customers have been reluctant to
commit to capital expenditure.
The company said it is capable of weathering the storm and is able to take
advantage of opportunities that may arise. But it warned in the current
difficult trading environment decisions may have to be made over the next 12
months that will affect the short term but provide a more solid base in the long
term.
TFN.newsdesk@thomson.com
npr/ms1
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