Slingsby sees higher sales at the beginning of 2021

Industrial equipment supplier Slingsby said sales were 8 per cent. higher in the three months to March 31, 2021 compared with the corresponding period in 2020.

Slingsby is listed on the stock exchange.

The Shipley-based business added that this improvement in sales offset the impact of a fall in group gross profit margin and had led to an unaudited profit before tax in line with that achieved in the same period in the prior year of £100,000.

Group sales in the four months to April 30, 2021 were 6 per cent. higher when compared to the same period in the previous year.

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The trend in group gross profit margin experienced in the first quarter of 2021 has continued in the second quarter and, as a result, unaudited profit before tax in the four months to the end of April 2021 has remained at £100,000, Slingsby said.

Unaudited profit before tax in the four months to April 30, 2020 was £200,000

Slingsby said: "The market remains competitive and the group remains cautious regarding the outlook. This is particularly the case due to the significant uncertainty caused by Coronavirus

"Whilst the group's sales grew in 2020 due to demand for coronavirus related products, the group has not experienced the same level of orders in April and May 2021 that it did during 2020.

"It is unclear as to the impact that the virus will have on demand going forward. There is also heightened potential for credit related issues should customers become insolvent.

"The group continues to experience significant cost increases across its product range as well as higher shipping costs and delays."

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