Shopfitter Havelock Europe saw group revenue from continuing operations rise by 17% to £38.5m in the first half of 2012 from £32.9m the year before. The underlying pre-tax loss narrowed to £1.2m from a loss of £2.8m the previous year. The good news is that the company made a profit after tax of £7.3m, versus a loss of £1.1m in the first half of 2011, after trousering an exceptional gain of £8.0m from the sale of its print division. Group net debt eased to £2.3m from £13.7m. "Looking ahead, the markets will continue to remain challenging. However, we are in a much stronger position to deliver continued progress in the second half aided by an increased order book both in the UK and overseas," revealed Eric Prescott, Havelock's CHief Executive Officer.
Eric Prescott, Havelock CEO, said: "Significant progress has been made across the Group and I am pleased to report that our focused efforts to control costs, increase efficiency and provide additional services to our customers has improved overall performance. Looking ahead, the markets will continue to remain challenging. However, we are in a much stronger position to deliver continued progress in the second half aided by an increased order book both in the UK and overseas."
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