Engineering group Unidare said today it is hopeful half-year figures will match last year's, given early signs of a recovery in several business units.
In November the company warned the re-location of one of its business may hit profits.
But at its AGM today the company said: "We are seeing tentative improvement in ORS Nasco and Eland, and Daalderop's underlying business remains steady".
It said "sizeable reductions" in various costs could offset the one-off costs incurred as a result of moving the Daalderop's business in the Netherlands.
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The company added that net debt is now declining due to "strong" cash flow along with efforts to cut its working capital.