Monday, July 27, 2009

News: Inditherm's growth less than anticipated


A trading update from Rotherham company, Inditherm highlights that the medical sector is continuing to grow in 2009 but, in the face of recessionary conditions, at a slower rate than anticipated.

First half orders were up 5% and new payment options have been brought in to accelerate medical sales in the second half of this year.

Inditherm's energy efficient polymer technology is used in heating mattresses, pipework, sports pitches, storage vessels and medical treatments.

The recession has also affected Inditherm's industrial sector with delays in the decision making processes taking longer than expected, however they state that they have not seen significant cancellation of their key projects.

In the interim results for the six months ended 30 June 2009, which are due to be released on the 24th September 2009, the company expects to report that turnover was down approximately 30%.

The statement reads: "The Board has been taking action in response to these market conditions and is currently in consultation with employees to reduce headcount by approximately 20%. In addition, our resources are being refocused towards the Medical sector."

Inditherm website



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