Electronic tools maker Oglesby & Butler said that the weak dollar has adversely effected its revenues.
Delegates at the company's AGM heard today that some 40% of the company's sales are in dollars. They were told that since mid 2002, the dollar has devalued against the euro by some 35% and in October of this year hit an all time low.
'The board believes that the appropriate action has been taken to ensure that the group continues to be competitive and to minimise in as far as it is possible to counteract these adverse conditions,' the company said.
Oglesby & Butler last month reported a small profit of just under €100,000 for its first six months to the end of September, after a loss of €73,000 a year earlier.
The company said trading conditions in the second half would remain difficult, mainly because of the weak dollar.
