Polestar 'pleased with progress'

News by

02 January 2003

Polestar has released preliminary financial results for the year to 30 September 2002, which the group described as a good performance in difficult markets.

Sales fell by 9.5% to 484.4m, while operating profits prior to exceptionals increased by 19% to 37.5m.

In a statement chief executive Barry Hibbert said: "We are pleased with progress made since the refinancing was completed last financial year... For the current year as a whole we are expecting similar profit growth to last year and hope partly to reverse the fall in sales experienced in the last 12 months."

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