Ventilation systems maker Andrews Sykes posted a lower pre-tax profit compared with last year as revenues dipped.
However, the Wolverhampton group, which specialises in the hiring of portable heating and air conditioning equipment, said overall trading in the first quarter was in line with expectations.
For the year ended December 29 the company reported a pre-tax profit of £12.4 million against £14 million last year, while revenues came in at £57.9 million compared with £59.8 million.
The company attributed the fall to last year’s wet summer and a fall in demand for air conditioning compared to the hot and favourable weather in summer 2006.
Chairman Jacques Murray said in a statement: "Although these profits are lower than 2006 I still consider that this is an extremely good performance, particularly considering we did not experience the very hot and favourable weather conditions of the summer of 2006."
He said they also highlighted the fact that the group was now less weather-dependent than ever before.
"It has been our strategy for some time to move away from this dependency and our group now has a diverse range of income streams thereby providing a solid base of revenue underpinning the business," he said.
"This, combined with our ongoing strict cost control policy, ensures that we are able to deliver satisfactory results even in the face of less than favourable climatic conditions."
It added its main trading subsidiary, Andrews Sykes Hire, continued to perform well.
"It continues to expand its business in non-seasonal hire markets, particularly through its specialist hire division. It has continued to expand its presence in niche markets and these non-traditional businesses operate without undue influence from seasonal weather patterns," added Mr Murray.
The pumping division also performed well in 2007, taking advantage of the opportunities presented.
Mr Murray said the group planned to invest more in this business, as well as its profitable air conditioning and heating divisions, in order to satisfy customers’ demands.
The company also announced that Jean Jacques Murray, previously a non-executive director of the group, has assumed the role of non-executive vice chairman with immediate effect.
Separately, London Security said Jean Murray would assume the role of its executive vice chairman, with immediate effect.