- Industrial equipment supplier HC Slingsby said its revenues in the year to date had fallen, but that cost control had nevertheless boosted its earnings.

Sales for the five months through may were down 3% on-year, though the company had seen a continuation of improved gross profit margin and lower overheads.

'As a result, operating profit in the five months to the end of May 2020 has remained higher when compared with the same period to May 2019,' the company said.

'The market remains competitive and the group remains cautious regarding the outlook.'

'This is particularly the case due to the significant uncertainty caused by coronavirus.'

'Orders are concentrated on a limited product range and it is unclear as to the impact that the virus will have on demand going forward.'

'There is also heightened potential for credit related issues should companies become insolvent. Furthermore, demand could be impacted as we approach the end of the Brexit transition period.'

Story provided by