British tool maker 600 Group Plc posted a much wider loss in the first-half as like-for-like sales fell 39 percent on lower order intake, but said it expected level of orders to improve in the second half.
The company, which had implemented several cost-cut measures, said it saw signs of recovery in its principal markets.
The final elements of the cost reduction programme, which will be implemented in Q4, are expected to result in an improved operating performance in the second half of the current financial year, Chairman Martin Temple said in a statement.
For the 26 weeks ended Sept. 26, the company's pretax loss widened to 6.1 million pounds ($10.10 million) from 0.8 million pounds last year. Revenue nearly halved to 22.7 million pounds.
The company's shares were trading flat at 19.5 pence at 1315 GMT on the London Stock Exchange.
(Reporting by Tresa Sherin Morera in Bangalore; Editing by Kavita Chandran)