The continuing downward pressure on plant hire prices affected turnover and profits at this air conditioning equipment rental and plant hire firm. For the half year ended 1 July, pre-tax profits slackened to £2.16m (£2.18m) on a reduced turnover of £43.86m (£44.24m). The company intends to focus on the core UK hire operations and the decision has been taken to dispose of small operations in Singapore and Poland. The air conditioning business suffered from poor weather-related trading conditions. Air conditioning hire continues to be depressed in the third quarter and chairman JG Murray explained that the 'outlook for the second half remains cautious'. The company initiated a share buy-back programme to improve shareholder return. The shares currently trade at 50p, just 1p above the 2000 low of 49p. The year's high is 130.5p.

Andrews Sykes	AIM	£37.63m	85.00p	0.00p
Click here for interactive charting
Other company articles:
Andrew Fitton			01/12/2001
Andrews Sykes heads down to Aim			10/10/2001
Andrews Sykes			10/10/2001
Andrews Sykes			02/10/2000
Andrews Sykes			26/10/1999