CARPET and floorcovering group Gaskell today announced a multi-million bid for a rival manufacturer.
The Altham-based firm, which employs several hundred at Gaskell Carpets, Rishton, and Gaskell Textiles, Clayton-le-Moors and Oswaldtwistle, revealed the £12million agreed bid for Kidderminster-based Tomkinsons.
The firm also announced today that its profits for the first half of the financial year fell from £2.26million to £1.8million.
"Despite the difficult trading conditions encountered, particularly during the first quarter, the board is confident that the group will benefit from any increase in market activity which is expected to arise from a
recovery in the UK economy," said chairman Edward Andrew.
"These more favourable external conditions, together with the group's recent success in winning substantial new sales contracts and the introduction of new products and equipment, should all help to ensure a satisfactory future for the group."
Shares in the group fell 5p to £1.11 today on the stock market.
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