Romag Holdings Full-Year Profit Slumps; Inks New Deals
December 15 2009 - 3:58AM
Dow Jones News
Glass composites maker Romag Holdings PLC (ROM.LN) Tuesday
reported a 71% fall in fiscal year pretax profit following a slump
in demand for glass, and said it has inked new deals with Kingspan
Group PLC (KSP.DB) and British Gas, a unit of Centrica PLC
(CNA.LN).
The company, which makes glass and plastic composites used in
photovoltaic glass for solar panels and products for the security,
transport and architecture markets, said the two deals, both for
photovoltaic products, mean it is in a better position to take
advantage of any recovery in its markets.
Romag said pretax profit for the year to Sept. 30 was GBP1.08
million, down from GBP3.73 million a year earlier. Revenue declined
41% to GBP19.7 million.
Company Web site: www.romag.co.uk
-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272;
jason.douglas@dowjones.com
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