Commercial equipment specialist HC Slingsby has reported a downturn in business following its move to new headquarters.

The historic Bradford firm relocated to the former WE Berry printing works on Otley Road, Baildon, at the end of last year.

However the move has come at a cost with the results for the six-month period up till June 30 showing operating profit to be down to £393,000, compared with £710,000 the previous year.

Turnover was also reduced to £9,694,000 from £10,221,000 and earnings per share down to 26.1 pence from 59.2 pence.

The downturn was predicted in June when bosses released a trading statement to the stock exchange warning of reduced profits. The disposal of the firm's old site on Preston Street, Bradford came at a cost £3 million.

James Slingsby, chairman, shrugged off the results as old news and pointed toward a brighter future. "The effects of the implementation of our new business system and the premises move have had a significant impact on the group's turnover and pre-tax profit figures which are disappointingly down on last year.," he said.

"However, we have successfully completed the office part of the business move and are now operating on one site, which is helping to gradually improve our operating efficiencies.

"The current order book has shown improvement from the reduction on the previous year experienced at the end of May, but trading conditions remain tough in an ever increasingly competitive sector.

"A review of overhead expenditure has been carried out by the board and a rationalisation plan has been implemented. I do however believe that the prospects and potential of the business remain positive in the medium to long term."

The company began life manufacturing equipment for industrial use but has since narrowed its business to making and selling niche items like smoking shelters and office chairs.

The 123-year-old firm was made public in 1961 and today trades all over the country. It employs more than 150 and is listed on the Alternative investment Market.

e-mail: mark.casci@bradford.newsquest.co.uk