CPS warns of continued "challenging" trading conditions

PNEUMATIC conveying and air filtration systems provider Clyde Process Solutions said its well diversified strategy helped it to deliver a half year performance in line with management expectations but it warned that trading conditions remained challenging in several of its markets.
By The Newsroom
Published 1st Sep 2010, 10:43 BST

The Doncaster-based group said that in the six month period ended August 31 2010, trading conditions have broadly improved but in certain markets and territories the company continues to experience challenges with accurately predicting order placements.

Its order book at increased by 18 per cent to 24.2m between February and July, generated from orders secured predominantly in the food, metals, chemicals and petrochemicals markets.

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Chief executive Alex Stewart said: "We have made a solid start to our financial year and all our global operations remain focused on securing order intake. We have secured some excellent breakthrough orders during the period under review, notably winning: our first order in the Chinese cement market; our largest filtration order in Europe; a 1.4m order with Anglo American in Brazil; and a 1m order in the US to launch our new petrochemicals strategy."

"Economic conditions have generally improved in recent months and we have developed a healthy sales pipeline of prospects. Accurately predicting when some opportunities in certain markets and territories will convert remains challenging but where we have developed senior-level relationships and presented the rapid return on investment our pneumatic conveying and air filtration solutions can generate, we have been successful."

"Our focus for the remainder of this financial year is to unlock the potential of our sales pipeline, which will deliver further returns to our shareholders."

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