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The Haynes Group has reported "a solid trading performance" for the six months ended 30th November 2010, earning a revenue of £15.7m.
The publisher of DIY and motor vehicle titles hailed "a solid trading performance in what continue to be difficult market conditions" in its half-yearly report.
Haynes Group reported revenue of £15.7m, 2% down on the prior period at £15.95m in 2009, and an operating profit of £2.96m compared to £3m in 2009. The publisher described is pre-tax profits of £2.74m as "in line with last year" and net cash as 59% ahead of November 2009.
The publisher added: "In the US, market conditions in the automotive aftermarket remain challenging. Nevertheless, recognising the difficult environment in which we are operating, our focus has been on working closely with our key customers to implement new sales and marketing initiatives which we are confident will provide benefits to the business going forward.
"In the UK and Europe, softer trading conditions at the start of the period in both our UK automotive and general publishing markets impacted sales, but stronger trading in both markets towards the end of the first half helped to recover some of the earlier shortfall."