Flowtech Fluidpower PLC said Tuesday that it swung to a first-half profit as volumes and revenue recovered.
The fluid power products supplier said pretax profit in the half-year was 2.3 million pounds ($3.2 million) compared with a loss of GBP929,000 in the previous year.
Revenue rose to GBP55.3 million from GBP46.6 million in the prior-year period, although down 7.2% on what the company called a more representative first half in 2019.
Flowtech said some of its key customers showed demand above estimates meaning volumes have returned to pre-Covid levels.
Despite a return to growth, the company said it was hit by supply-chain challenges in meeting customer demand, and there has been difficulties in obtaining core product for short-term needs.
“The post-Brexit trading structure between the U.K. and both Northern and Republic of Ireland has also been an issue,” it said.
Flowtech said it expects full-year results to be in line with current market guidance.