Clyde reports increased orders despite profits downturn
The Doncaster-based group, which specialises in pneumatic conveying and air filtration systems, said the order book at the end of October stood at 26.8m, up from 23.3m at the end of August
Jim McColl, chairman of Clyde Process Solutions, said: "I am pleased to report that the group has delivered a strong performance for the period, in what continues to be a challenging economic environment. The order intake in the period is encouraging and this has continued after the period end.
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Hide Ad"The market sectors in which the group operates remain attractive. The short term outlook is underpinned by a strong order book,
which the group expects will convert this financial year and into the next."
In the six months to August 31, operating profits fell from 4.1m to 2.8m and pre-tax profits were down from 3.1m to 1.7m, although the previous year's figures were boosted by a 900,000 recovery of Turkish debt.
The group said it is confident about its future prospects given its diverse range of markets, together with expansion into new markets, territories and technologies.