Dewhurst Announces Improved Results

Dewhurst Group PLC, a London-based supplier of components to the lift, transport and keypad industries, said recently it has delivered improved interim results despite the challenge of inflation in its major markets, Market Screener reports. The firm reported pretax profit of GBP4 million (US$5.1 million) in the six months that ended March 31, up 8.4% from a year prior, on revenue from continuing operations of GBP30.4 million (US$38.5 million), up 12%. Dewhurst said sales in its lift division grew in most regions, while sales in its keypad division saw a “modest recovery,” and transport sales were similar to the previous year. Dewhurst said its underlying market in North America remains strong, but there are signs that the second half of this financial year may be hurt by a slowing of orders and customer approvals to proceed. Orders in Australia are “reasonable,” but it will take time for these orders to filter through to sales, as continuing customer labor constraints are leading to project delays.