Profit at manufacturer rises to £5m but company says challenging market conditions would result in static 2006 sales
Shares in Heywood Williams, the UK-based modular housing to conservatory company, fell slightly this morning to 84p after it unveiled that UK sales would remain flat for the rest of 2006.
The company said that its pre-tax profit was up 13.6% to £5m on an increased turnover of £133.8m from £122.6m for the six months to 2 July 2006.
Heywood’s profit after tax returned to the black to £3.4m from a loss of £18.2m in the corresponding period last year. It said the improvement was a result of restructuring undertaken last year.
In its stock market statement the company said that trading in its UK hardware division had been “challenging” in the first half of the year and that it expected the market to remain “flat” for the rest of 2006.
In its North American modular housing division sales had increased by 15.8% to £91.8m over a similar period.