Shieldtech turnover up, despite police order delays

BODY armour specialist Shieldtech has increased half year turnover, despite a six month delay by the police force in announcing its national framework agreement.

The Warrington-based company increased turnover by 11.4% to £5.6m (2008; £5.0m) for the half year to the end of December 2009.

Operating profit before intangible assets and exceptional costs increased to £350,000 from £236,000 in the same period last year. However, it still made a pre-tax loss of £82,000 (2008; profit £49,000).

The company said it had been affected by a six month delay in the awarding of the UK national framework agreement that will be used by the Metropolitan and various other police forces.

This, it said, had caused a markedly reduced demand for body armour in the UK police market during the second quarter.

It added that during the lull in the UK market it has been developing overseas interest in its body armour. New contracts were won during the period in Portugal, Iraq, Italy, Belgium and various other countries, it said.

Tim Wightman, chairman, said: “There is growing overseas interest in our newly designed range of garments as we continue to explore new geographical and product market opportunities. 

“However, we are disappointed that, after disruptions to the UK market in previous years to accommodate new body armour standards, we have faced further delays in the award of the important national police framework agreement.

“Overall, the investments we have made in the design and technical performance of our product range give the board confidence in the future prospects of the group.”