Chloride powers on

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Manufacturing News, Source : TheManufacturer.com
Published : 30 Oct 2006 11:33
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Industry’s growing need to protect its power supplies is providing a welcome boost to the fortunes of the Chloride group.

Reporting its financial results for the six months to 30 September today, the company said revenues were up 11 per cent to £93.3 million (2006: £84.4m) with operating profit up 36 per cent to £10.3 million (2005: £7.5m). And its order book at the start of the second half year was up £9.7 million to £68.3 million.

Commenting on the outlook, chairman Norman Broadhurst said Chloride had made an encouraging start to the year. “We enter the second half with a strong order book and confidence that we can continue to deliver quality earnings through robust organic growth. The proven success of our strategy provides us with real competitive edge and we are well placed to continue to take advantage of favourable market conditions,” he said.

The company made good progress in itsr core European business and in key market segments including data centres for IT and financial services, manufacturing, transport and oil and gas. It had also been pleased to announce the acquisition of the leading power Spanish protection solutions company Coalba Energia.

Looking forward, Chloride said the importance of secure power was now receiving recognition by governments worldwide but in most countries improvements in the electrical power infrastructure lagged behind increasing demand. “Independent market research, which forecasts consistent market growth through to 2012, confirms that secure power is therefore a vital part of business continuity planning and risk management. We believe that this requirement will continue to drive growth in our markets and growth in demand for Chloride’s secure power solutions,” said Broadhurst.