HCSlingsby plc Faces Sales Decline and Losses

HCSlingsby plc (GB:SLNG) has released an update.

HCSlingsby plc, an industrial and commercial equipment distributor, reports a 4% sales decrease for the first five months of 2024, with a £0.22m unaudited loss before tax, compared to a £0.13m profit in the same period last year. The decline is attributed to factors such as increased minimum wage, lower seasonal sales, and political uncertainty. Despite the competitive market and economic concerns, the company maintains a positive net cash position and continues honoring its pension scheme commitments.

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