MS hails strength of defence division
The Doncaster-based firm said there are signs that a recovery in
activity in its industrial engineering businesses is starting to
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Hide Ademerge, although it warned that it could be a fragile reco-very.
The group described its order book as "substantial" and heavily biased in favour of defence.
It said this was "a most favourable position" as it believes it could be some considerable time before there is a real and sustainable recovery in order intake levels from the broad global markets served by its industrial engineering division.
It added that the balance sheet remains strong with high levels of net cash and short term deposits.
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Hide AdThe group said it continues to actively drive, encourage and support its ongoing product development and production efficiency programmes.
MS International's diversity has helped it to weather the global recession.
The defence division has bailed out its struggling forgings and petrol station forecourt businesses, which have been hit by "austere" market conditions.