Dewhurst interim revenues hurt by weak UK market

9th Jun 2015 10:55

Dewhurst said its first half of the year was better than compared with the year before, but a weak UK market dragged down its revenues.The electrical equipments group saw its revenues drop slightly to £22.8m from £23m as the General Election affected its UK sales during the second quarter.UK sales were also hurt by weaker performance in its lift and transport divisions.On the bright side, pre-tax profits increased 4% to £2.2m thanks to a strong performance overseas, especially in the US, Asia and Australia.The group also declared a dividend of 3p to be paid in August, an increase of 7% from last year.Looking ahead, government's possible restrictions on public spending will have an impact its public sector sales, which will keep the UK market weak.It also warned a further fall in the Australian and Canadian currencies will hurt its full-year profits.Shares fell 5.53% to 555p on Tuesday at 11:09.