DONCASTER-based engineer Clyde Process Solutions today revealed that it had achieved a big rise in half year profits on the back of a strong order book.
The company's performance has been boosted by rising demand for its conveyor systems which offer a cheaper, greener alternative to traditional conveyor belts.
Clyde specialises in pneumatic conveying systems, which transport materials by blowing
air through an enclosed pipeline – rather like a reverse vacuum cleaner.
It's a much greener, cleaner solution than the traditional conveyor belt which allows particles of cement and other materials to pollute the air.
It also uses less energy – a major concern for industrial customers at a time of soaring gas and electricity prices.
In the six months to the end of August 2008, revenue increased 39 per cent to £36.2m.
Gross profit increased 49 per cent to £8.9m. Operating profit rose 79 per cent to £2.5m, while profit before tax increased 400 per cent to £2m.
The group's order book is near record levels at £34.5m, an increase of 65 per cent on the same period last year.
Jim McColl, the chairman of Clyde Process Solutions, said: "These strong results, with double-digit growth at the revenue and profit line, demonstrate the robust nature of our business model.
"The group's earnings have been derived from a diverse range of industries which all have long-term growth characteristics.
"CPS's solutions continue to attract considerable interest in the global marketplace, driven by the on-going demand for environmentally beneficial, low energy pneumatic conveying and air filtration systems.
"The group has progressed its global expansion strategy and is at an advanced stage of negotiations to enter the Indian market, having already opened a new operating subsidiary in South Africa.
"We enter the second half of the current financial year with a strong order book and are confident in our long-term growth prospects which are underpinned by energy and environmental factors."
