Oval reports loss
Oval chairman, Oliver Stocken, said that the past 12 months "have probably been the most difficult any of us have encountered in our careers".
Oval Group has declared a loss before tax of £0.4m for the year ending 31 May 2009, compared to a profit of £4.6m in 2008.
The company said the result is “due to one off exceptional costs of restructuring and a combination of increased amortisation and funding costs supplemented by lower interest income”.
Turnover increased by 16% from £90.5m to £104.6m and earnings before interest payable, tax, depreciation, amortisation and exceptional costs rose 7% from £17.4m last year to £18.7m.
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