The Company is now able to update the market on its performance up to the end of the fourth month of its financial year.
Consolidated Group sales and pre-tax profits (unaudited) for the period 1 April to 31 July 2009 were as below:
Group sales and other income: GBP 1,466,909 (GBP 1,645,735 for the comparative period last year).
Pre-tax profits: GBP 106,628 (GBP 164,512 for the comparative period last year).
Commenting on Group performance, CEO Stephen King said: ‘As predicted, the effects of the weak economy have hampered our ability to maintain margins. Sales of services not directly linked to regulatory compliance issues are hardest hit. However, some areas of business continue to prosper as evidenced by a contract just won from Lewisham Homes and placed with our Adamson’s Laboratory Services subsidiary. The work involves asbestos surveys in Council-managed housing stock and the majority of the £135,000 order value will crystallise in the current financial year. All subsidiaries continue to look at responsible cost-saving measures that will enable them to generate reasonable levels of profitability without adversely affecting the ability to maintain service levels. In addition, we must ensure that we are able to respond rapidly in the event of an upturn in business.’
For further information please contact:
Astaire Securities plc
Gavin Burnell 020 7448 4400