Colder winter boost for Andrews Sykes
Wolverhampton-based specialist heating hire group Andrews Sykes has seen a solid rise in profits and turnover during the first half of the year.
Andrews Sykes rents out cooling, heating, and ventilation equipment in Northern Europe and the Middle East. Colder winter weather helped over the six months to the end of June as its main hire and sales business in the UK and Europe enjoyed improved trading conditions.
And, after a disappointing result in 2014, Sykes' Benelux operations produced a strong recovery.
Its UK air conditioning and refrigeration arm also did well, with operating profit up £100,000 on last year.
Group pre-tax profits were up to £4.67 million from £4.15m a year ago, while turnover rose to £28.2m from £26.7m.
Looking ahead, Jacques Gaston 'Tony' Murray, the company's 95-year-old billionaire chairman, said: "Trading in the third quarter to date has been positive.
"Europe experienced a period of hot weather during the early part of July which stimulated a high demand for air conditioning products. Although this was short lived in the UK, our operations across mainland Europe enjoyed a hot summer with prolonged periods of above average temperatures.
"Activity in the Middle East has remained consistent through the summer period, with trading levels ahead of last year in both Sharjah and Abu Dhabi.
"The board remains cautiously optimistic that the group will return an improved performance for the full year.
The company marked its half century this year with a celebration lunch at Molineux's WV1 restaurant and by moving its head offices from its home of 20 years at Premier House, Darlington Street, to St David's Court during the summer.
All of the existing 40-strong head office team made the move to the newly-refurbished building.
