Chloride warns of trading shortfall
12 April 2012
CHLORIDE Group has warned that its full-year results will fall short of expectations. But the company, which makes parts to protect electrical equipment from power failure, remained hopeful that trading would pick up in the second half of the year.
'Overall trading for the year ended 31 March will be below the low end of expectations with full-year sales at about £147m due to the poor trading in January and February,' the company said.
Chloride has been hard hit by the downturn in the semiconductor and telecoms sectors. It expects orders to remain at current levels in the first half of the year. Chief executive Keith Hodgkinson said: 'This has been a most difficult year with market conditions depressing sales and operating profits.'
