Engineering to African safari camp group CH Bailey has reported a further dip in profits.

The Alternative Investment Market listed company from Newport described its six-month results to the end of September as disappointing, with pre-tax losses of £861,194 compared to £464,728 a year earlier. Turnover decreased by £293,737 (5.3 per cent) to £5.5m.

Chairman Charles Bailey said its UK engineering companies reported a reduction in sales. But while its Specialist Heavy Engineers and Midway Precision reported dips in sales, the chairman said they were forecasting improved sales for the second half of the year.

The company’s hotel in Malta (Hotel Villa Rosa) remains profitable, but Mr Bailey said the group was disappointed that redevelopment plans had not progressed.

“We will be addressing this issue again in the new year.”