We are pleased to announce, that the company sales results for the first half of 2016 financial are in line with expectations and continue to outperform the 2015 results.
Lamp capping cement sales in particular looking positive compared to last year.
Sales figures to end of October 2016 9% up on 2015.
Driven primarily by increase sales to North American customers. Profitability for the lamp capping cement division remaining unchanged once the effect of increased input costs and extra sales are balanced out.
Sales volumes for 2017 are expected to be similar to 2016, with the switch to LED from halogen incandescent not occurring at the expected rate. With additional volumes from our European customer base expected in 2017, any further decline in the traditional lighting market should be more than offset by these additional European sales.
Sales figures to end of October 2016 2% up on 2015.
Volumes marginally down in the UK and China, Offset by increased sales volumes in Germany. Sales levels also enhanced by customers paying in Euros against a weakening pound.
Full year sales results are expected to show a similar pattern of reduced volumes but similar sales values. Sales volumes for 2017 expected to be down a further 10% as business in China continues to decline with greater emphasis in some areas on the use of LED rather than halogen bulbs.
Sales figures to end of October 2016 12% down on 2015, with volumes down by a similar amount.
Reductions were primarily due to reduced export sales compared to same period in 2015 although additional export sales at the end of 2015 financial year have exaggerated the year on year comparison.
In addition, the continued switch to online sales and build your own bowl facilities has meant that there is no longer a requirement for our customers to hold stock of finished bowls. Once this switch has taken full effect, we would expect, sales volumes for 2017 to be similar to 2016.