Profits up at Leeds Group

TEXTILE specialist Leeds Group said pre tax profit has grown despite an increase in the price of cotton goods.

In the six months to the end of March, the figure increased to £895,000, up from £744,000 in the same period last year.

Leeds Group is based in Yeadon but operates primarily through subsidiaries in Germany, Hemmers Europe, and Hemmers China.

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Chairman Kathryn Davenport said: “The economic environment remains challenging, and the large increase in the price of cotton goods has led to a current order book that is less full than 12 months ago.

“We have taken action on sales prices aimed at protecting margins, it remains to be seen whether order levels pick up as the year progresses and it becomes clearer to customers that current price levels are not a short term phenomenon that can be avoided by delaying orders.”

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