Van Elle said that challenging market conditions, 鈥渨ith customer uncertainty and some heightened competitive pressure鈥�, meant that its adjusted pre-tax profit for the six months to 31st October would be just 拢1.0m, or thereabouts, down from 拢2.8m the previous year.
First-half revenue was around 拢48m (2019 H1: 拢42.9m).
Despite the difficult start to the year, Van Elle鈥檚 board is confident of meeting market expectations for the full year.
It said: 鈥淣otwithstanding continued short term uncertainty in several of the group's markets, including the commercial building sector and subdued activity levels in year one of Network Rail's Control Period 6, the Board anticipates modest market improvement during the second half and believes the diversity of the group's operations and continued delivery of its transition plan initiatives will allow it to maintain the current momentum. Consequently, the board believes that the group is on-track to deliver a result for the current year within the range of market expectations.鈥�
Van Elle鈥檚 results for the first half of its 2020 financial year are due to be published on 22nd January 2020.
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