Fife-based firm reports upturn in shopfitting and education supply
Shopfitter Havelock Europa has described its 2013 open order book as “encouraging” despite the “challenging” UK economic outlook.
Fife-based Havelock said the UK retail sector “remains challenging” though the firm reports an upturn in activity in the second half.
Activity also increased in the education supply division, which benefited from new framework agreements, particularly for Stage Systems.
The company said in a pre-close trading update today: “Discussions with retail customers about activity levels are positive and the business continues to develop relationships with new customers while international activity is progressing on the back of business secured from existing customer relationships.
“Encouragingly, new projects in the educational sector under regional or local schemes continue to come to market.
“In addition, discussions on further framework agreements are in progress.
“Control of working capital remains a key focus within the business and this together with the sale of Showcard Print and Clean Air during 2012 resulted in a significant reduction in net debt during the year.
“The sale of these non-core parts of the group has the additional benefit of allowing greater focus by management on development of the core interiors business.”
Havelock said trading for the 2012 year to December 31 would be in line with expectations.