Sales up, profit down
10th January 1981, Page 6
10th January 1981
Page 6
Page 6, 10th January 1981
— Sales up, profit down
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ASSOCIATED Engineering Ltd's group sales for the year ended September 30, 1980, totalled £4 4 1.7m compared with £367.8m in 1979. Despite this sharp upturn, profit before taxation was only £7.8m compared with £19.0m in 1979.
Net profit after taxation slumped from £14.4m in 1979 to £5.4m last year.
Chairman John Ferguson said he was disappointed with reduced profitability bearing in mind the result for the first six months.