Haynes results 2013 released

Chairman’s statement: Over the past twelve months the softer trading conditions for our core automotive manuals and a sharp decline in demand for our domestic general book publishing titles has had a negative effect on Group profitability and, whilst in mainland Europe the strong trading performance from HaynesPro has helped to mitigate these downward pressures, Group revenue ended the year 7% lower at £27.6 million (2012: £29.8 million). Despite a tight control of overheads, the impact of the lower revenue coupled with an increase in HaynesPro development cost amortisation of £0.4 million left Group pretax profits at £3.6 million (2012: £4.7 million), down 23%.

For full results click Haynes
For FT comment click FT