Leicester-based Shield Group (
www.shield-group.com) reports that its parent company, which was founded in 1949 and supplies components to the power-generation, highways, construction and automotive industries, has seen turnover fall by almost £20 million, following a year of “very challenging trading”.
The latest accounts filed for parent group RA Shield Holdings showed turnover was £61.4 million in the year to 31 October, compared to £79.3 million a year earlier. However, pre-tax profits remained stable at £5.1 million.
A statement accompanying the results said “a world-wide slowdown had led to reduced customer demand during the period. The business has maintained strict cost controls and has generally performed at a high level, operationally.
“We are well-placed to benefit from improved volumes and trading conditions when the global commodity-cycle turns more positive.”
Shield Group is based on Leicester’s Fosse Way and has additional operations on Saffron Lane and Wenlock Way. It also has bases in Coventry, Burton Latimer and Oldham.