REVENUES at Staffordshire-based Northbridge Industrial Services climbed by 28% in the first half of 2010, it announced today.
The industrial services and rental company, which is headquartered in Burton-upon-Trent, said income had risen year-on-year from £6.1m to £7.8m for the six months ended June 30, 2010.
Pre-tax profit is also up by 27% to £1.4m compared with £1.1m in the same period last year.
Other key financial points from six-monthly report include basic earnings per share up by 7% to 11.5p and diluted earnings per share of 11.3p, up from 10.6p year-on-year.
Gross margin site at 63.3%, down slightly from 64% last year, while cash generation from operations is £1.9m, again down on the same period last year with £2.7m.
The company said it had “continued strong growth in the Middle East region” and had won contracts with new customers in South Korea and Syria.
Investment in the group’s hire fleet had been reduced from £3.1m last year to £1.5m, a statement added.
Chief executive Eric Hook said: “Trading improved in the majority of our activities during the first half of the year despite the continued economic uncertainty around the world and we expect this to continue for the second half.
“We look forward to reporting more progress in our development in due course.”
