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Home > Book Trade News > Haynes reverses on profit slide

Haynes reverses on profit slide

Posted at 9:08AM Thursday 17 Aug 2006

Car repair manual publisher Haynes Publishing skidded lower today after it said "unhelpful" market conditions continued into the second half of the year, causing a 10% slide in full year profits.

Pre-tax profit for the 12 months to 31 May fell to £8.3m from £9.2m in 2005 on turnover down from £36.4m to £34.2m this time as lower consumer spending led to tighter inventory control by retailers.

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