Alumasc Group PLC Trading Update (4561Y)
May 13 2021 - 1:00AM
UK Regulatory
TIDMALU
RNS Number : 4561Y
Alumasc Group PLC
13 May 2021
13 May 2021
The Alumasc Group plc
("Alumasc")
Trading Update - Strong last four months' performance
Alumasc, the premium building products, systems, and solutions
Group, today provides a trading update for the ten months ended 30
April 2021.
Our absolute focus continues to be the safety of our employees,
customers, suppliers, and sub-contractors as we continue to manage
the impact of the Covid-19 pandemic in accordance with latest UK
Government guidelines.
Following a record first half year performance that saw double
digit revenue growth and also a double digit return on sales, it is
pleasing to report that this momentum has continued into Alumasc's
last four months.
All of Alumasc's divisions have contributed to this strong
performance in the period. The businesses have been successful in
winning market share and have been further supported by encouraging
export sales. Additionally, the restructuring during FY 2020, which
delivered GBP2.4m in annual cost savings, has supported improved
margins. Levolux continues to benefit from its turnaround plan,
with a return to consistent profitability and a substantially
improved performance this financial year.
Conditions in our markets, particularly in the new build housing
and RMI sectors, have continued to be strong into the second half
year, underpinned by the government's continuation of its stamp
duty holiday and first-time buyer support, and we would anticipate
demand remaining strong through the remainder of the year to 30
June 2021. Our businesses have seen increasing raw material and
shipping cost inflation in recent months, but these are being
managed with customers and suppliers to maintain margins over the
medium term. As a consequence of the continued strong momentum, the
Board now expects that Alumasc's results for the year will be ahead
of its previous expectations.
Paul Hooper, CEO, commented: 'The great potential for the Group
is starting to be realised with a strong continuation of the good
performance seen in H1.
Together with the benefit of the structural efficiency
improvements made by the Group in recent years and the continuing
progress on the Levolux turnaround plan, the Group is well
positioned to benefit from the significant opportunities within our
markets, both short and longer term.'
This announcement contains inside information for the purposes
of Market Abuse Regulation (Regulation (EU) No. 596/2014). The
person responsible for making this announcement on behalf of the
Company is Helen Ashton, Group Company Secretary.
For further information please contact:
The Alumasc Group plc
Paul Hooper, CEO + 44 (0) 1536 383844
Simon Dray, Group Finance Director + 44 (0) 1536 383844
Helen Ashton, Group Company Secretary + 44 (0) 1536 383812
Peel Hunt (Broker)
Mike Bell + 44 (0) 207 418 8831
Ed Allsopp
finnCap (NOMAD)
Julian Blunt + 44 (0) 207 220 0561
Camarco
Ginny Pulbrook + 44 (0) 203 757 4992
Tom Huddart + 44 (0) 203 757 4991
Email: alumasc@camarco.co.uk
Notes to Editors:
Alumasc is a UK-based supplier of premium building products,
systems and solutions. Almost 80% of group sales are driven by
building regulations and specifications (architects and structural
engineers) because of the performance characteristics offered.
The Group has three business segments with strong positions and
brands in their individual markets. The three segments are:
Building Envelope; Water Management; and Housebuilding
Products.
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END
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