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Housing slowdown hits Gibbs and Dandy

Builder merchant Gibbs and Dandy blamed a slowdown in the housing market and lower consumer spending for a dip in sales down 1.6 per cent in the first six months of the year compared to the same period in 2004.
Profits for the full year could be up to 15 per cent lower than last year's record performance if sales fail to pick up, the company warned.

Pre-tax profits increased 1.5 per cent to £2.41 million at the half-way stage compared to £2.38 million at the end of June last year. Turnover dipped 2 per cent to £27.86 million from £28.45 million.

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