CONTINUED ‘severe’ action to reduce overheads helped restrict losses at Baildon-based workplace products company H C Slingsby in 2014.

But the firm still saw pre-tax losses increase to £453,000 against £249,000 in 2013.

Chairman John Waterhouse reported that sales fell away in the last two months of the year after an autumn improvement.

Cost-cutting in the first quarter to reduce overheads took full effect in the second half and helped restrict pre-tax trading loss for the second six months to £72,000. Restructuring costs totalled £193,000.

In 2013 Slingsby axed a fifth of its staff, including a layer of management, and closed its manufacturing unit with products designed in-house being outsourced to UK suppliers.

Mr Waterhouse said sales so far in 2015 had improved after a slow start but remained fragile, although there had been an encouraging year-on-year rise in online sales after investment in the company’s website.

Mr Waterhouse said: “Slingsby has recognised the constant need to drive value along with its well established service offering and has therefore invested further in its pricing proposition. This stronger offer will keep Slingsby competitive in a market place where price visibility is so readily accessible.”

In March, Slingsby acquired Norwich-based industrial and commercial equipment business ESE Direct Limited. which had 2014 sales of £6.5 million and a pre-tax profit of £350,000.

Slingsby’s board is recommending a final dividend of 4p a share, making a total for the year of 6p .