When posting its trading results for the last financial year, Sandwell company Lowe and Fletcher said that it is satisfied with its current trading position despite the impact of the pandemic.
The Oldbury-based historic locking systems manufacturer reported a turnover of £74.8m for the year to 31 December 2020, down from £82.5m in 2019. The family-owned business added that its pre-tax profits went from £5.2m to £2.8m over the same period.
Lowe and Fletcher designs and manufactures locking systems for a broad range of industrial customers worldwide. Its locking systems range from simple mechanical locks to the latest electronic locks, as well as bespoke solutions enabling the company to meet diverse locking requirements.
Founded in 1889, Lowe and Fletcher consists of two divisions – the locking systems business and the safety and security systems division, which supplies smoke and fire containment systems and emergency lighting and power solutions.
A statement signed off by the board said: “The directors are satisfied with the trading position for the group overall within the context of a year affected by the Covid-19 pandemic.
“The group remains committed to the long-term strategic plan and the directors are determined to ensure that each operating company is in a position to benefit from the improved economic conditions as markets continue to recover.”
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