‘Next day’ move helps Slingsby

OFFICE supplies and factory equipment firm Slingsby has seen turnover and pre-tax profits fall in the face of tough trading conditions.

However, the company said its decision to hold higher quantities of its most popular lines to make next day deliveries possible had helped it to maintain its margins.

Baildon-based Slingsby posted pre-tax profits of £200,000 for the six months to the end of June, down from £300,000, while turnover fell from £7.8m to £7.5m.

In a statement, the company said trading conditions were “still tough with no visible signs of recovery”, adding that the group “remains in a reasonable position to take advantage of opportunities for expansion and any upturn in the economy whenever that may occur.”

The company’s defined benefit pension scheme is now £10.7m in deficit, up from £8.7m at the end of last year.

Inventory at the end of June was £2.4m, up from £2.3m at the end of last year, as it bought more products from the Far East.