Other companies may be seeing signs of a pick-up after the recession but industrial services holding company CEPS said that, if anything, the first half of this year has been tougher than last year.

Revenue in the six months to end-June edged up to £7.9m from £7.5m the year before, but profit before tax dipped to £0.18m from £0.29m. Earnings per share (EPS) fell to 0.61p from 2.14p. The company has elected not to propose an interim dividend.

"Overall I anticipate that 2010 will be a tougher year than I suggested at the time of my 2009 report with Sunline in particular having a great deal to do to restore its longer-term profitability. The biggest risks this business faces are that the longer-term margins achievable in polywrapping cannot be returned to former levels and that the turnover gap at the Solutions subsidiary is not quickly filled," said company chairman Richard Organ.

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