Dewhurst expects its full year profits to be significantly higher than current market expectations. Dewhurst, an independent supplier of quality components to the lift, keypad and transport industries, says the recovery reported at the interim stage has continued through the third quarter and into the fourth to date. Seasonal effects mean that the company's second half is traditionally stronger than the first half, but the effect is expected to be greater than usual this year. The UK vote to leave the EU had an immediate effect on the value of the pound. A significant proportion of the company's sales and earnings are generated in foreign currencies. With the fall in the pound these sales and earnings are worth more to the company. It says that it currencies remain broadly at today's level through to the end of September, it will benefit reported sales and profits for the year, compared to expectations at the half year. Dewhurst says the EU referendum decision has not yet affected its underlying level of business. There have been reports in the media of cancellations and deferrals in commercial property transactions. However, whilst the decision has generated a period of uncertainty, it is too early to speculate what impact, if any, there will be on Dewhurst.
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