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Walter Watson sees uncertain outlook

Steel News - Published on Wed, 15 May 2019

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Belfast Telegraph reported that Northern Ireland steel company Walter Watson has reported an 8% rise in revenues to GBP 55.8 million. Walter Watson posted a GBP 900,000 drop in pre-tax profits to GBP 3.2 million for the year to December 31, 2018. It described this as a robust performance given the increasingly competitive trading conditions prevalent in it’s markets.

Group said its margins had still moved from 15% in 2017 to 13% in 2018 as a direct result of the rise in the wholesale price of steel throughout the year.

Directors at the Co Down group said the outlook for 2019 remains less certain. The directors added they remained hopeful that the signs of recovery in the traditional construction market will continue into the new financial year.

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Posted By : Rabi Wangkhem on Wed, 15 May 2019
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