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Tanfield organic sales climb
Mon, 15 Mar, 2010
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Tanfield organic sales climb
Mon, 25 Sep 2006, 08:49:00
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Value
Percent
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Tanfield Group
34.50p
-5.48%
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<b>Tanfield Group</b>, the engineering firm, announced strong sales in the first half on the back of organic growth but said a recent acquisition would help boost results.<br /><br />The group said turnover rose nearly 60% to £16.5m for the six months to June from £10.4m a year ago, almost entirely from organic growth, while pre-tax profit before restructuring costs and goodwill totalled £1.94m compared with £0.19m last time.<br /><br />Tanfield said its acquisition of UpRight, which was completed in June, had only a limited impact on sales figures in the reported period but is now delivering a solid contribution to the group. <br /><br />UpRight has trebled the number of sales outlets for its existing Aerial Access brand while order intake accelerated in the first months of ownership to a level four times that of the UpRight business at the point of acquisition.<br /><br />The group is experiencing strong interest in its zero emission products, said Tanfield and is therefore considering its options with regard to the potential for leveraging products into other markets.<br /><br /><br /><br />
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