BAD DAY

Yorkshire Post - Business - - NEWS / BUSINESS -

Sh­effield Forge­mas­ters:

The de­ci­sion to ac­cel­er­ate the de­pre­ci­a­tion of the as­set base of the com­pany by its new man­age­ment team re­sulted in a one-off pre-tax loss of £16.4m for 2017. This com­pared to a loss of £900,000 in 2016. Prior to this ac­count­ing change, the com­pany recorded a mod­est pre-tax profit of £200,000 on rev­enue of £76.1m. The firm said a strong or­der book would put it in a bet­ter fi­nan­cial state go­ing for­ward.

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