Glass composites maker Romag Holdings PLC (ROM.LN) Tuesday reported a 71% fall in fiscal year pretax profit following a slump in demand for glass, and said it has inked new deals with Kingspan Group PLC (KSP.DB) and British Gas, a unit of Centrica PLC (CNA.LN).

The company, which makes glass and plastic composites used in photovoltaic glass for solar panels and products for the security, transport and architecture markets, said the two deals, both for photovoltaic products, mean it is in a better position to take advantage of any recovery in its markets.

Romag said pretax profit for the year to Sept. 30 was GBP1.08 million, down from GBP3.73 million a year earlier. Revenue declined 41% to GBP19.7 million.

Company Web site: www.romag.co.uk

-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com

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Romag Holdings (LSE:ROM)
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