Record year for CPS

CLYDE Process Solutions enjoyed a year of record orders before it was bought by Schenck for £35m.

However, accounts filed at Companies House show an end to temporary salary reductions, a £200,000 bad debt write off and costs associated with the sale saw the company record a pre-tax loss of £484,000 for the year to the end of February 2011, compared to a £4.6m profit the previous year.

A 36% increase in order intake helped Doncaster-based CPS to a 5% growth in revenue and a 37% rie in its closing order book.

The company significantly increased its staff numbers over the course of the year from 485 to 544.

The directors’ report says the company enjoyed success in the petrochemicals industry, particularly in Asia, and a strong performance in the food industry.

However it also acknowledges the firm faced challenges during the year from uncertainties in the global economy.

CPS was delisted from the London Stock Exchange last year following completion of its acquisition by Schenck.