Tomkins sees stronger sales in first half, but warns of weakness

ERJ staff report (DS)

London -- Tomkins PLC, which owns Gates Rubber and Schrader Electronics, saw sales increase by 23 percent in the six months to 30 June 2010 over the same period a year ago. The company reported sales of US$ 2427.5 million (euro 1828 million) in the period. This compares with $2002 million reported a year ago, or $1967 million if only on-going businesses are considered.

Operating profits returned to the black, with the company reporting profits of $276 million, reversing the loss of $92.5 million reported a year previously.

David Newlands, Chairman, said, "Notwithstanding the strong performance in the first half of 2010, we believe that global economic uncertainty coupled with recent downward trends in some macro indicators is likely to impact negatively our end markets in the second half of 2010 compared to the first half.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Tomkins