09.02.2012

Upbeat statement from Tanfield

Tanfield, the owner of aerial lift manufacturer Snorkel has issued a brief trading update for its fiscal year 2011.

The company will announce the actual results, for the year which ended in December, in April. The full statement is as follows:

“As anticipated in the interim results, trading for the second half of 2011 was similar to that of the first half. The Company's order book continued to grow as order intake significantly outstripped monthly shipment revenues. Equipment lead times extended as the growth rate was managed to ensure the company optimised the use of its working capital. Net cash at 31 December 2011 was £3.4 million (31 December 2010: £3.6m).”

Chief executive Darren Kell added: "Global demand for aerial work platforms continues to build, driven by fleet replacement at major rental operators. The company is examining ways that will allow it to respond to that increased global demand and to reduce its lead times accordingly."