Defence helps MS International during downturn

INDUSTRIAL engineer MS International has seen profits dip during a “period of exceptionally challenging recessionary trading conditions”.

Revealing its half year results to October 31, Michael Bell, chairman of the Doncaster-based group, said despite demand being down in its industrial engineering division, defence had made “admirable progress”.

Pre-tax profits were £1.23m, compared to £2.45m over the same period last year, on revenue substantially lower at £18.10m, down from £27.23m.

Mr Bell said he believed the figures were “quite a resilient result” given market conditions.

Its defence division has seen its order book increase and generate cash and growth in both revenue and profit.

There were more problems in industrial engineering with customers battling against conditions.

Mr Bell added: “This clearly had an impact on our activities although it is encouraging to see that the petrol station superstructures business has seen a progressive recovery in activity after starting the year with a depleted number of construction contracts in hand.”