Fife shop-fitting firm Havelock Europa said despite the poor retail sector backdrop its order book for the year ahead is “encouraging”.
Boosted by improving conditions and a strong performance from its educational supply arm during the later half of the year, the company said overall trading was in-line with expectations.
Releasing the company’s trading update ahead of full-year results, chief executive Eric Prescott said net debt had fallen significantly following the sale of its printing arm Showcard Print and fume extraction business Clean Air last year.
He said: “The sale of these non-core parts of the group has the additional benefit of allowing greater focus by management on development of the core interiors business.”
He also said, encouragingly, new projects in the educational sector under regional or local schemes continue to come to market.
The company said: “The economic outlook for the UK remains challenging, particularly for the retail sector. However, against this background, the strength of the group’s opening order book for 2013 is encouraging.”
