Havelock Europa pares its losses

SHOPFITTER Havelock Europa yesterday reported reduced half year losses, increased revenue and said it made progress in securing new business in overseas markets.

Group revenue increased by four per cent to £42.9m in the six months to 30 June. Havelock reported a pre-tax loss of £1.5m compared to a loss of £4.6m in 2010, following exceptional costs of £2.1m. Group net debt was reduced to £17.2m from £19.7m in December 2010.

Havelock also confirmed the appointment of Paul Davis as business development director.