Umeco sees profit at lower end of market view

Umeco, which also makes composite materials for Formula One racing cars, said the continuous effect of the slowdown in the key markets served by its composites business created a higher-than-normal degree of uncertainty for the full year outlook.

Chief executive Clive Snowdon said: "While there continue to be short-term challenges for the group and the timing of recovery remains uncertain, we serve growth markets and our medium and long term prospects are robust."

The company, which employs 50 people at its process materials Aerovac factory in Keighley, West Yorkshire, said its revenue in the four months to Jan 31, 2010, was slightly below the previous year.

Umeco also said its net debt rose to 116.7m from 90.6m as at Sept. 30.