Profits down as bathroom products firm warns of signs of ‘classic downturn’

Samuel Heath, the listed bathroom products firm, has seen profits fall after the Birmingham firm warned that the economy is showing “classic signs of a downturn”.

For the half-year to 30 September, Samuel Heath posted profits of £363,000 – down from £402,000 in 2018. Turnover rose slightly to £6.9m.

Sam Health, chairman, said: “I cannot believe that yet again that I have to bring up Brexit as the reason for continued uncertainties, which could affect the next six months quite dramatically. To this must now be added the Election here in UK, as well as others coming up elsewhere in the world. It is very difficult to forecast how all these factors will affect our second half trading.”

The firm said it will be issuing an interim dividend of 5.5p per share, payable next February.