PipeHawk posts modest profit as pandemic hurts sales

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Construction radar products group PipeHawk posted a modest annual profit after its revenue fell.

Pre-tax profit for the year through June amounted to £79,000, compared to a year-on-year profit of £194,000. Revenue slipped 19% to £6.7 million.

Pipehawk said it had experienced a year of two halves, with it having returned to profitability in the second half.

'I think there is a feeling that we, as a nation, have put behind us the uncertainty of the outcome of Brexit as exacerbated by how best to tackle the global pandemic,' chairman Gordon Watt said.

'Certainly, the PipeHawk Group's second six months saw a return to near pre-pandemic levels and, even more importantly, we go into the next financial year with our healthiest orderbook ever.'