The £1.1m pre-tax loss compared to a £2.8m profit the previous year, while revenue dipped marginally to £88.3m, down from £89.4m.

The figures for the year to March were also impacted by £2.4m of goodwill write offs at the Asian Pacific and Indian business, which are both up for sale.

Douglas McCormick, CEO of Sweett Group, who took the helm in March, said that the UK business was a shining light of the group core with improving profitability and increased cash generation

“The strategic review, which completed in April, concluded that we have solid UK and European businesses which generate cash, with positive working capital dynamics, strong market positions and these geographies will be central to our growth going forward,” he said.

“The sale of our APAC and Indian businesses is progressing well. Once the sale has completed, the board intends to invest further in the UK and European businesses and explore emerging opportunities in the USA and Canada.

“Trading in the UK and Europe, the central pillars to our ongoing strategy is positive and we continue to build on our strong position with a number of high profile contracts recently won.”