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We were expanding despite difficult industry conditions.
The company recorded revenues of £114.6m, down 1.9% on the year, but it was Archant's best relative performance since 2007, despite difficult industry conditions.
Tenneco Automotive said yesterday that it planned to eliminate up to an additional 405 salaried positions worldwide, because of increasingly difficult industry conditions in the automotive supply market.
Due to difficult industry conditions the value of property has declined: basically, as the food retail industry faces difficult conditions and cuts its store opening programmes, the value of supermarkets declines.
"It was a positive surprise against very low expectations -- it's the year-over-year decline that better reflects the difficult industry conditions the company faces," John Casesa, an analyst at Merrill Lynch, said.
Suffering from continued difficult industry conditions and desperate for improved liquidity, the company asked its lenders to waive a tangible net worth covenant that is part of its credit agreements.
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Mr. Miller said "industry conditions remain extremely difficult," and he reported that the company's third quarter, which ends on Saturday, would probably show wider losses than analysts had expected.
For all the company's determination to retain Opel, Mr. Henderson acknowledged that industry conditions were still difficult, especially following the expiration of cash-for-clunkers programs in many countries.
For all the company's determination to hold on to Opel, Mr. Henderson acknowledged industry conditions were still difficult, especially after the end of the cash-for-clunkers auto rebate program in many countries.
The second message was "Blame industry conditions".
Hospitality is a notoriously difficult industry.
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