News

Haynes worried about weak dollar

18 April 2008 14:54:00

Car repair manual publisher Haynes said there is a realistic possibility of improvement in the second half though economic conditions remain challenging and the weak dollar is a concern.

"As has been well reported economic conditions remain very uncertain. In the absence of further economic deterioration, the Group believes there is a realistic possibility of improvement in the second half of the year,"

It added that the continuing weakness in the US dollar is a source of concern.

The group said trading conditions in the US continue to be difficult. Like for like sales in local currency ended the 13 week period 6% down on the prior year, but 13% lower when translated to Sterling.

In the UK and Europe, sales of the core UK manuals ended the 13 week period down 7%. However, sales year-to-date remain 3% ahead of last year, it said.

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