Crowcon Detection profits fall £4.2m on Middle East slowdown

Summarised from 2 outlets · Updated 2 Nov, 06:02 · Archive

Crowcon Detection Instrument reported profit before tax of £8.1 million, down from £12.3 million, as Middle East market conditions weakened.

Crowcon Detection Instrument, based in Milton near Didcot, reported a profit before tax of £8.1 million for the financial year, down from £12.3 million the previous year. Sales fell from £46.1 million to £40.8 million. The company attributes the decline to challenging market conditions in the Middle East, which impacted both revenue and profit.

The company designs and manufactures gas detection instruments and safety solutions. In its report, Crowcon said: 'Despite this headwind, the Company continued to benefit from its established market position, broad customer base and ongoing focus on operational performance.' The firm launched several new products during the year, which directors are confident will provide growth opportunities.

Crowcon paid dividends of £6.1 million during the financial year, down from £8.25 million previously. The company did not propose a final dividend. Directors have prepared forecasts to December 2027 and expect the company to remain profitable. Even in a severe but plausible downside scenario, the firm would be able to meet its debts as they fall due. Directors expressed a 'high level of confidence' that the company has sufficient liquid resources to sustain its business model and remain solvent for at least twelve months.

How it is being reported

• Oxfordshire business' profits fall £4.2m as Middle East market conditions hit salesA gas detection instrument firm has reported a drop in profits.Oxford Mail · 2 Nov, 05:00
• Oxfordshire business' profits fall £4.2m as Middle East market conditions hit salesA gas detection instrument firm has reported a drop in profits.Oxfordshire Guardian · 2 Nov, 05:00

In this story: Crowcon Detection Instrument · Milton · Didcot · Oxfordshire · Middle East

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log