Profits cut in half as engineering firm digs in
Profits at Van Elle fell by more than half in a "year of transition" at the Nottinghamshire engineering firm.
It had prepared the stock market for the disappointing figures last week when it issued a profit warning on the back of having to “adjust a small number of specific balance sheet items and contract accruals”.
This morning it has published its financial figures for the year to April 30, which showed a 15% drop in revenue to £88.5m.
Pre-tax profits were down 57%, to £4.0m, which has resulted in the dividend being ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...