News

Widney says benefits from new business delayed

29 May 2008 09:20:00

Widney, the window systems and automotive equipment firm, said benefits from new business will now be realised fully next year.

The group said it has won substantial new business since the start of this year, equating to an annualised turnover of approximately £6m.

"Long project lead times mean that the benefit from the new business will only come through in the last quarter of this financial year and be realised fully in the next," it said.

"Although we are reassured by this order intake we are conscious of the current economic conditions and the impact that they may have on both current and new business," it added.

Pre-tax profit for the half year came in at £105,000 compared with the £3.3m loss last year on revenue that fell to £15.3m from £17.4m.

"It has been a steady start to the year with good operational performance and reassuring signs for potential growth. However, the current market conditions are difficult so we are actively managing our cost base to bring it into line with levels of demand," said chairman Joe Grimmond.

Interim dividend was maintained at 0.5p per share.

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.