SGB owner Harsco reports 25% Q1 sales fall

SGB owner Harsco Infrastructure has reported a 25% fall in sales for the first quarter of the year to £195m.

The firm, part of the US-based Harsco Group, blamed two thirds of the decline on currency changes, while the remainder was the result of poor performance, mainly in the UK SGB business.

Operating margins were 6.6%, down from 10% in last year's first quarter. Operating profit in the period was 50% down at £12.9m.