StockMarketWire.com - Autins reported narrower losses as improved margins offset lower revenue amid challenging trading conditions in the automotive industry.

For the year ended 30 September, pre-tax losses narrowed to £1.54nm from £1.73m on-year and revenue decreased 8.1% to £26.9m.

Revenue was hurt by reduced general automotive sector demand, combined with specific pressures and model changes at the group's largest customer, the company said.

But labour control measures and material savings boosted gross margin to 27.8% from 24.8%, offsetting the decline in revenue.

'We will continue to focus on operational improvement, sales growth and new market development,' Autins said.

'Despite market and political uncertainties, the board anticipates that the group will maintain positive momentum and continue its financial recovery in 2020,' Autins said.

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