HC Slingsby PLC said on Tuesday that sales declined over the first nine months of 2024, and the company added it is ‘cautious’ about the outlook for the full-year.

For the first nine months of 2024, sales were down 8.0% from a year prior. The Baildon-based industrial equipment supplier said it swung to a pretax loss of £530,000, from profit of £270,000.

The third quarter of 2024 proved particularly challenging for the business with sales down 11% on the prior year.

‘The directors consider that the lower level of sales is due to customers reducing or deferring spending following cost increases caused by factors such as the increase in the minimum wage, lower sales of seasonal products and uncertainty around the impact of future tax and regulatory changes,’ the company explained.

‘The group remains cautious regarding the outlook for the remainder of the financial year. This is particularly the case given the recent lower level of sales and volatility in order intake which makes demand going forward difficult to forecast. The directors will keep the group’s cost base under review as appropriate.’

HC Slingsby said its net debt stretched to £360,000 million at the end of September from £80,000 million at the end of June.

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