Optimism expressed by flooring manufacturer

A manufacturer of resilient flooring has stated that it believes it has turned a corner in terms of sales, following the release of its financial results for the second quarter of 2009.

Chairman of Congoleum Corporation Roger Marcus stated that although the market had been weak in the three months to June 30th, it appears to have bottomed out.

"Even modest improvements in any of our end markets could provide healthy incremental profits," he said, adding that the company is looking to the future in terms of a newly issued patent as well as a new product line that will be introduced later in the year.

Congoleum's financial statement showed that the company's sales for the quarter were $39.4 million (£24 million), compared to $47.2 million in the same period in 2008.

The recent takeover of floor tile manufacturer Reflex Mouldings by the FHS Group meant that the 70 employees of the company would be able to keep their jobs, a positive sign in a downturn that has seen many businesses go into administration.