LONDON (Thomson Financial) - Delling Group Plc. posted a significantly wider
first-half pretax loss, but said it has had a stable start to the third quarter.
The company's pretax loss for the six months to end-June rose to 1.06
million pounds from 151,000 pounds a year ago.
Revenue from continuing operations came in at 10.24 million pounds compared
with 10.53 million pounds last year.
The company said it is now involved in a wide range of contracts discussions
with various customers and that its sales pipeline for this autumn as well as
the prospective pipeline for 2009 looks "encouraging".
The board added that it believes the major cost reduction processes are now
complete. It said its high financing costs are a direct consequence of
acquisition financing, however the group is working on addressing this shortly.
Delling said it is also expecting in coming months to reduce its supplier debt.
The company said it aims to continue its expansion, both through organic
growth and subsequently through acquisitions.
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