Energy Technique shows improved performance
Energy Technique has reported a 9.3% increase in sales for the year to 31 March 2008 to £9.19 million and profit before tax up 34.8% to £530 000. Diffusion Heating & Cooling improved its operating profit to £730 000, representing an operating profit margin of 8.0%. This performance was achieved through a combination of a 9.3% increase in sales and a continuation of the tight cost-cutting policies introduced during the significant cost-cutting measures of the last two years. Both Diffusion’s product groups experienced high levels of growth. Fan-coil sales grew by 8% and commercial-heating sales by 18%. James Lugg, group chairman, said,. ‘Over the last two years, Diffusion has re-established itself as the market leader in the manufacture and supply of premium-quality fan-coil units and commercial-heating products to offices, hotels, banks and retail outlets.