THE parent group of Tomkinsons has singled out the Kidderminster carpet firm's performance as "especially disappointing" in a gloomy profits forecast.
Gaskell, which acquired Tomkinsons last September, predicted that the group's pre-tax profit for the year ending on December 31 would be "significantly below" the £2.1million recorded 12 months earlier.
Among factors blamed for the anticipated figures are the impact of cheaper imports in the residential market, compounded by September's fuel protests and the recent bad weather.
Demand for the group's products in the leisure and hospitality sector had been hit by uncertainty surrounding the future of pub chain ownership.
A statement issued by Gaskell said: "The performance of our recent acquisition, Tomkinsons, has been especially disappointing."
On a more optimistic note, the statement went on: "However, we remain confident of the strength of Tomkinsons's brands, which will be underpinned by the imminent launch of several exciting new product ranges and continued investment in the Kidderminster site."
The Gaskell board intends to recommend payment of a final dividend of 1.4p.
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