Car manuals specialist Haynes Publishing warned that first quarter revenue fell 9 per cent from the same period last year and if the same trend continues first half results will be hurt.
UK sales were hit by weak orders as retailers snapped up the popular Fifty Shades of Grey novel, the group said.
Haynes said: "There is little doubt that during the period retail purchasing budgets were tight and that much of those available budgets went towards the phenomenally successful Fifty Shades series."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
UK & European revenue ended the quarter 10% down on last year. Sales at its core printed automotive manuals fell 12% while sales of its non-automotive tiles ended the first quarter 21% down on the prior year.
Revenue from the North American & Australian operations, in local currency, finished the first quarter 11% weaker on the same period last year, as sluggish orders from a small number of key customers continued to affect sales in the US.
On a brighter note, sales of technical data to the professional markets by HaynesPro surged 17% in the quarter.
CJ
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
