UK photovoltaic glass company, Romag, experienced an 11% fall in turnover to £9.1m in what the company describes as a “turbulent year.” However, since the announcement of the feed-in tariff, sales have began to pick up moving the specialist glass maker back into the black at the operating level, with profits of £301,000 in the first half to March 31 compared with a loss of £1.3m previously, reports the Financial Times.
Over the past financial year, sales of architectural glass fell 38% as snow and adverse weather began to take effect, yet the sales of Romag’s photovoltaic glass product, PowerGlaz, were 5% ahead. The company said, “Enquiries have greatly increased following the UK introduction on April 1 of the feed-in tariff.”
David Banks, Romag finance director, said, “We always saw 2010 as a year of recovery. The first half has set us on the road to recovery.”
|
Romag interim results to March 31 |
|||
|
Sales |
Pre-tax profit |
Earnings per share |
Dividend |
|
£9.1m |
£63,000 |
0.1p |
– |
|
↓11% |
↓94% |
↓93% |
– |
