Heating and plumbing firm predicts weak demand into 2010
Heating and plumbing company, BSS, announced that revenue had fallen 3.9% from last year in the 25 week period ended 19 September, standing at £608.7m, a like for like decrease of just under 7%.
It foresaw weak demand in rest of the year and in 2010 and said that it had slashed 170 jobs, 3.5% of workforce, at a cost of £1m.
BSS said gross margin had fallen from last year, reflecting stronger contract sales, increased promotional activity and the benefits last year of inflation on steel and copper.
It added that it had driven down costs 8% year on year.