Fife-based retail and educational interiors group Havelock Europa yesterday said it expected a pick-up in trading in the second half of the year following a slow start, writes Graham Huband.
Chairman David MacLellan told investors at the company’s annual meeting yesterday that activity in the first six months of the year had fallen below 2012 levels for the same period.
However, he said he expected that the second half of the year would be more positive.
“In an economic environment that remains challenging and competitive, the group has seen activity in the first half of the year at a lower level than in the comparable period last year,” Mr MacLellan said.
“However, discussions with our principal customers give us confidence that activity will pick up and we anticipate a busy second half.
“Additionally, the company has now completed its first projects in the growing healthcare and student accommodation markets and levels of new business enquiries in these areas are encouraging.
“We are starting to invest in our manufacturing operations to increase capacity and reduce costs.
“We have taken delivery of a laser cutting machine which will be operational soon and delivering benefits during the peak summer period.”
All resolutions raised at the meeting were duly passed.