LONDON (Aug. 10, 2010)—Tomkins P.L.C., which owns Gates Rubber and Schrader Electronics, saw sales increase by 23 percent in the six months ended June 30 over the same period a year ago.
The company reported sales of $2.4 billion in the period. This compares with $2 billion reported a year ago and $1.97 billion if only on-going businesses are considered.
Operating profits returned to the black, with the company reporting profits of $276 million, reversing the loss of $92.5 million reported a year previously.
However, Chairman David Newlands said global economic uncertainty coupled with recent downward trends in some macro indicators is likely to negatively impact Tomkins' end markets in the second half of 2010 compared to the first half.