Hormann Price Increases
Hormann introduces new price lists on Domestic Products from 1st April. The result of the EU Referendum on June 23rd sent the value of Sterling into free-fall. The effect of this on Hormann’s bottom line was shocking and immediate yet they did nothing to directly address this, choosing to wait and hope that some stability returned and the value of the Sterling would improve. We now have some stability, but at a Foreign Exchange rate which is simply not viable. In [...]