 DESPITE THE GENERAL ECONOMIC DOOM AND GLOOM AROUND THE UK, PRODUCTION GLASSFIBRE IS PLEASED TO REPORT THAT AT ITS HALF YEAR, THE BUSINESS IS 30.2% AHEAD OF ITS 2007 PERFORMANCE. BY ENSURING A LARGE PART OF ITS SALES ARE IN RECESION RESILIANT SECTORS, HAVING ONLY A MINOR OVERALL EXPOSURE TO THE HOUSEBUILDING MARKET AND AN ONGOING PROGRAMME OF COST CONTROL AND PRODUCTIVITY IMPROVEMENT, THE BUSINESS IS WELL PLACED TO NOT ONLY RIDE OUT THE PRESENT TURMOIL, BUT TAKE ADVANTAGE OF ANY OPPORTUNITIES THAT MAY ARISE DURING IT.
‘WE ARE AS FAR AS YOU CAN IMAGINE FROM BEING COMPLACENT,’ SAID CHAIRMAN PHIL DRYBURGH, ‘BUT WE HAVE RUN THE COMPANY FOR THE PAST FIVE YEARS IN ANTICIPATION OF THE PRESENT MARKET CONDITIONS, AND HAVE A BALANCE SHEET, SALES PROFILE AND COST STRUCTURE WHICH WILL ENSURE WE PROPSPER THROUGH AN ECONOMIC RE-ALIGNMENT MANY OF OUR COMPETITORS ARE SERIOUSLY ILL PREPEARED FOR’ |
