Challenging and inconsistent year for AESSEAL

ROTHERHAM manufacturer AESSEAL has had a “challenging” year with inconsistent results across its operations.

Sales declined to £43.9m compared to £45.2m in 2013 to 31 December and pretax profit on ordinary activities dipped slightly to £6.46m and £6.86m

The firm manufactured mechanical seals for the engineering and construction industry.

It said that “international business remains challenging” although the group’s results were “satisfactory” as the firm’s sister companies in Malaysia, Sweden and Italy helped contributed to a better performance.

AESSEAL has also acquired a 5% stake in a Saudi Arabian business, of which parent company AES Engineering owns the remaining share.

A dividend of £2m was paid to shareholders last year, compared to £1.5m the year before.