LONDON (Thomson Financial) - Waterline Group PLC posted a lower first half
pretax and said its current trading remains in line with expectations, but said
it believes the second half of the year will remain challenging.
It said market conditions are being impacted through a slowdown in the
housing market, interest rate rises and downbeat forecasts.
The supplier to the fitted kitchen industry said its pretax profit for the
first half to end-Sept, declined to 819,000 stg against 908,000 stg, while
revenues rose to 43.46 mln stg from 41.33 mln stg, a year ago.
Chairman Peter Dicks said: "Given challenging market conditions, we are
pleased with our results for the half year and are confident of meeting market
expectations for profits for the full year."
The company said low-end and middle market products continue to be under
price and margin pressure.
It continues to look at options for group, Waterline added.
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