Despite a warning that conditions in the paper industry were continuing to squeeze the business, shares in industrial machinery manufacturer Brunel were almost unchanged last week.
The group has made 55 people redundant at its Dixon-Cameron manufacturing plant in Taunton, Devon. The business makes slitters and rewinders for the paper industry.
Brunel said some operations at Taunton would be contracted out, reducing costs and helping to deal with fluctuations in market conditions.
It warned that this outsourcing would not benefit the group until next year – operating profit will fall about £1.5m short of expectations this year, it added.
Brunel shares finished the week up 0.25p at 5.5p.