CRASH test dummy maker First Technology said yesterday the weaker US dollar had affected profits, but predicted a better second half to the year.
First said operating profits, up by 15.5 per cent at £13.4m in the six months to October 31, would have been £700,000 higher if the results had been translated at the exchange rates seen during the same period last year.
First said the weakness of the dollar in the six months had a significant adverse impact on the group, which does 47 per cent of its business in North America and 90 per cent in countries outside the UK.
However, the company reported a promising start to the year, with integration of acquisitions going well and cash generation remaining strong.
The company said the second half of the year had historically been stronger than the first, and would be more so in the future due to the addition of BWT, which makes gas detection systems.
First is the world's biggest manufacturer of crash test dummies and computer crash test models.
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