Engineering group Unidare warned today profits for the second half of the year are likely to fall short of expectations partly due to the weaker dollar.
Unidare reported half-year operating profit of euro4 million, down from €4.4 million in the same period last year. Turnover of €104.8 million, down from euro129.9 million.
The €14 million decrease is due to currency translation and a €7 million charge for discontinued activities.
Mr Jack Hayes, Unidare's executive chairman, warned the group also saw further weakening in Europe where its heating business Daalderop manufactures water heaters. Mr Hayes added "...in the US, despite strong action, we continue to experience reduced sales and the resulting margin and expense effects..."