Alba reveals impact of slowdown

British consumer electronics maker Alba today said it was a victim of low consumer spending and price-cutting in the high street as it returned losses of £6.6m (€9.7m) for the first half of the financial year.

The company behind Goodmans and Bush music systems and Dirt Devil vacuum cleaners said it was still feeling the backlash of shoppers being unprepared to part with cash for luxury goods like new stereos and televisions.