Loss of contracts result in profit drop for manufacturer

The Rotherham-based UK arm of German manufacturer Kostal has reported significant losses in profits for the year ending 31 December 2017. The business, which is part of independent family company Kostal Group founded in 1912 in Lüdenscheid, posted a drop in pre-tax profits from £8.9m to £5.3m. In accounts published on Companies House this week, Kostal also saw turnover dramatically fall to £74.2m, compared to the £93.6m figure achieved during the previous year. Kostal said that the decrease in turnover was expected due t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
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