Brexit concerns and stockpiling by customers affected the sales of the UK arm of an engineering and electronics company which can trace its roots back to 1886, according to new documents.
Bosch Thermotechnology, which is based in Worcester, manufactures gas and oil fired boilers and related appliances.
New accounts for the 12 months to 31 December 2019 show the company's revenue went from £542.4m to £520.1m while its pre-tax profits increased from £111.5m to £112.5m.
A statement signed off by the board said: "Challenging conditions in the market resulted in a fall in both gas and oil boiler sales compared to [the] prior year.
"Brexit and stockpiling by customers in Q1 2019 affected sales in Q2
link source - Insider Media