Stanelco 'heading' into profit

Sales for the six months to 30 June this year hit £7.4m compared to £3.9m for the same period in 2007. Stanelco said this is mostly due to its bioplastics division.

Stanelco's net loss reduced to £1m from £3.7m in the same period last year.

Asked whether Stanelco would return to profit this year chief executive Paul Mines told PRW: "We haven't given a forecast yet but we are certainly heading that way."

Mines said that during 2007 the business was refocused onto bioplastics and that the company had been concentrating on building up sales and its technical development team.

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