Business
Half Yearly Report
Half Yearly Report.
About this update from Tanfield Group Plc
[{"type":"text","content":"\n RNS Number : 9066Z Tanfield Group PLC 30 September 2009 \n \nThe Tanfield Group Plc \n ('Tanfield', 'Group', or 'the Company')\n Interim Results for the six month period to 30 June 2009 \n30 September 2009\nTanfield Group Plc, the leading manufacturer of aerial work platforms and commercial electric vehicles, announces its unaudited interim results for the six month period to 30 June 2009.\nSummary\n\n\nTurnover of £29.9m (H1 2008: £92.8m / H2 2008 £52.9m)\n\n\nOperating loss of £11.0m (H1 2008: Operating profit £10.3m / H2 Operating loss £9.0m)\n\n\nNet cash at 30 June of £10.8m (31 December 2008: £11.1m)\n\n\nStaff costs reduced by 40% since H2 08\n\n\n\nDarren Kell, CEO of Tanfield, said: 'Sales performance across the Group continues to be constrained by the global recessionary environment.\n'However, we took appropriate and timely corrective action to reshape the business. Throughout the period we have consciously run the Company for cash ahead of profitability; a strategy that has maintained the cash position, with the group still retaining a strong balance sheet.\n'We continue to prepare for an eventual upturn in market demand in both our core business sectors, and are already witnessing positive developments in the Zero Emission Vehicles division.'\n\n \nFor further information:\nThe Tanfield Group Plc +44 (0) 845 155 7755\nDarren Kell, CEO\nCharles Brooks, FD\n\nArbuthnot Securities &nbs...