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Record orders for Chloride
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03/11/2008
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Chloride Group has a record order book and good prospects for the second half of the year, the power solutions provider said today (3 November).
Announcing the company’s interim results for the six months ended 30 September, chief executive Tim Cobbold said Chloride had made good progress in the first half year and was entering the second half with confidence.
He went on: “Whilst not immune from changing economic circumstances, we focus on markets with strong fundamental growth drivers.
“Trading in the year to date is in line with our expectations, we have a record order book and good visibility of further opportunities in the second half year.
“Whilst not wholly immune, Chloride is well equipped to adjust to changing economic circumstances, and we continue to monitor our end user markets to ensure that we respond appropriately to any new developments and opportunities as they arise. Chloride made good progress in the first half year and we enter the second half with confidence and a record order book. Trading in the year to date has been in line with our expectations and we have good visibility of further opportunities in the rest of the year.
Sales for the half year were up 25% at £152 million (£121.8m) while pre-tax profits leapt 44% to £17.6 million (£12.2m). The record order book was up 21% at £124 million.
Chloride also reported that its manufacturing joint venture in Shenzhen China had begun production.
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Author
Ken Hurst
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