Leics’ manufacturer remains bullish despite squeezed margins

shutterstock.com/Gunnar Pippel

Leicester-based Smith Brothers might have seen its profits squeezed in its latest financial accounts, but remains bullish nonetheless.

The firm, which specialises in a wide variety of heating and dust extraction/biomass systems, reported a healthy growth in turnover from £72.5m to £79.7m but saw pre-tax profits dip to £5.9m (from £6.3m.)

The company states: “We are showing another excellent result, albeit, profits are slightly lower than the previous year.

“Overall we are very confident about the future of our business and we are continuing to review our options so we can expand the business further, as and when opportunities occur.

“The strength of our financial position means that we have the resources to do this.”