Digital Look

Alumasc profit slumps 47%

Date: Thursday 04 Feb 2010

Building and engineering products group Alumasc posted a decline in half year profit and warned short-term market conditions are expected to remain challenging.

Alumasc reported a pre-tax profit of £1.9m compared with £3.5m the previous year. Revenue for the period was down 27% at £44.5m.

Building Products' revenues of £33.3m were down 22% on the first half of last year and 7% on the second half of last year.

Following last year's record performance, solar shading firm Levolux, remained strongly profitable, despite the short-term decline in larger project work, the group said.

"Short-term market conditions are expected to remain challenging and there are uncertainties as to the level of public sector expenditure that can be sustained after the forthcoming UK general election," said Alumasc in a company statement.

Net debt was reduced by £1.2m to £9.2m.

The interim dividend per share has been maintained at 3.25p

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