HC Slingsby PLC - Shipley-based industrial and commercial equipment distributor - Reports that group sales in the five months to May 31 were 8% higher compared to the same period a year before. Says pretax profit in the period amounted to roughly £170,000, more than doubled from £70,000, year-on-year. Remains cautious regarding its outlook, as the market is currently ‘competitive’.

Warns that factors like the aftermath of Covid-19, high inflation and the conflict in Ukraine might hurt demand going forward. Notes that it continues to experience ‘significant’ cost increases across its product range as well as higher shipping costs and delays. Says these increases hurt gross margins in the last five months and will likely persist for the remainder of the year.

Current stock price: 205.00 pence

12-month-change: down 99%

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