Profits rise at specialist hire firm
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Specialist hire company Andrews Sykes has seen profits and revenues climb for the six months to June 30.
Turnover for the period was £35.7m, an increase of £2.2m compared with the same period in 2020. Operating profit for the period was £8m compared with £7m in 2020.
In a statement signed off by chairman JG Murray, the company said: “Whilst certain of the group’s business operations continue to be affected by the coronavirus pandemic, for example the performance of Khansaheb remains depressed compared to historical levels, demand in Europe has increased and the pumps business in the UK continues to perform in line with last year’s levels and above pre-pandemic levels.
“Management remains optimistic that the business will continue to improve as the economy recovers fully but are mindful that we live in uncertain times and circumstances can change very quickly.”