Spring Ram slumps to pounds 43m loss
Thursday 14 March 1996
Spring Ram, the kitchens and bathrooms group, slumped to a pounds 43m loss last year after heavy restructuring charges, weak demand and rising raw material prices. Chairman Roger Regan plans to sell the loss making Crosby Doors and Stag furniture division this year. He also hinted that he may move to a part-time role once the group had stabilised. Turnover rose 17 per cent to pounds 300m. But exceptional charges amounted to pounds 31m and operational losses hit pounds 10m. The group made profits of pounds 3m in 1994.
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