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Alumasc in investment programme.

MIDLAND building and engineering group Alumasc saw profits tumble - but attributed much of the decline to its investment programme.

The Kettering-based company, which has operations in Cannock and Telford, reported July-December pre-tax profits of pounds 1 million, compared with pounds 2.2 million the previous year. The firm was also hit by higher than expected demand at its Alumasc Precision arm, causing "significant cost over-runs".

But chief executive Paul Hooper said: "Sales and revenue have been strong - the export side is increasingly important across the group, accounting for 20 per cent of our sales, and we have been investing in the business in terms of people.

"We are re-investing to move forward, with new product development, sales and marketing activity. We feel we have been moving in the right direction."
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Title Annotation:Business
Publication:Birmingham Mail (England)
Date:Feb 17, 2012
Words:130
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