28/Jul/2014 - Last News Update: 19:07

Shop fitter Havelock Europa signals turnaround

Category: Scotland

Published: 3rd May 2012 09:08:26

The Fife shop and office fitter Havelock Europa has shown further signs of a turnaround in its fortunes with a cut in losses and strong order book.

The company made a pre-tax loss of £4.5m but the underlying figure, which strips out one-off charges, showed a small profit.

Sales last year of £99.5m were up slightly on 2010.

Havelock said it had a strong order book for 2012 in the retail and educational sectors.

Earlier this month, Havelock announced plans to sell off its Showcard Print business for £15.25m in order to cut some of its debts.

'Core activities'

Last October, the Dalgety Bay-based firm won a three-year contract to fit out at least 30 new schools in the south of England in a deal worth about £20m.

Eric Prescott, chief executive of Havelock Europa said: "This has been a year of significant progress for the group.

"The strengthening of the sales and marketing team, together with key operational changes, has generated new business ensuring we have a solid order book for 2012.

"While we expect the market environment to remain challenging, our strategy to focus on our core activities only and with a stronger balance sheet, we are in a better position than we have been in previous years."

BBC News External Link Show Citation

Latest News

Harvard Citation

BBC News, 2012. Shop fitter Havelock Europa signals turnaround [Online] (Updated 3rd May 2012)
Available at: http://www.ukwirednews.com/news/1426233/Shop-fitter-Havelock-Europa-signals-turnaround [Accessed 28th Jul 2014]

News In Other Categories

  • Green light for £12m special school in Gwynedd

    Plans for a £12m special school in Gwynedd for children with disabilities and learning difficulties have been backed by planners.
  • Cancelled Colchester I Am Music Festival 'a debacle'

    A council that withdrew permission for a music festival with just two days' notice has called the organisation of the event a "complete debacle".
  • Bristol Academy extends reach overseas with first foreign students

    With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
  • No guarantee Wales to bid for Games, says Carwyn Jones

    There is no guarantee Wales will bid to host a future Commonwealth Games, says First Minister Carwyn Jones.
  • 'Poor treatment for hepatitis C infection in UK'

    Official figures for England show just 3% of people who develop chronic hepatitis C each year receive treatment to help clear the virus.
  • MH17 jet 'downed by missile shrapnel,' says Ukraine

    Security officials in Ukraine say the downed Malaysia Airlines jet in eastern Ukraine suffered an explosive loss of pressure after it was punctured by shrapnel from a missile.