Epwin Group PLC AGM trading update (6405Z)
May 25 2021 - 1:00AM
UK Regulatory
TIDMEPWN
RNS Number : 6405Z
Epwin Group PLC
25 May 2021
25 May 2021
Epwin Group Plc
AGM trading update
Epwin Group Plc (AIM: EPWN) ("Epwin" or the "Group"), the
leading manufacturer of low maintenance building products,
supplying the Repair, Maintenance and Improvement ("RMI"), new
build and social housing sectors announces the following statement
in respect of current trading, in advance of today's Annual General
Meeting:
"I am pleased to report that trading in the year to date has
continued to be strong. Demand from the Group's key markets
continues to be high, with indicators of consumer confidence
strengthening. Revenues for the first four months of the year are
56% ahead of 2020 (which included the first lockdown period) and 9%
ahead of 2019, predominantly driven by demand from the RMI
market.
"As previously reported, supply chains continue to be under
pressure from both high market demand and shortages from global
events and supplier issues. As a result, raw material prices have
continued to increase and the Group is taking steps to mitigate
these equitably through price increases and surcharges, albeit this
process naturally lags the increase in input prices.
"The Group retains a strong balance sheet to support strategic
investment. Covenant net debt at 30 April 2021 was GBP16.2 million
(31 December 2020: GBP18.5 million), providing the Group with
approximately GBP60 million of headroom on its facilities.
"The SBS acquisition, which completed in January, is trading in
line with the Board's expectations and is integrating well.
"The outlook for the current year continues to be favourable,
notwithstanding the raw material cost inflation and supply chain
issues, which we are managing proactively. The medium and long-term
drivers for the Group's markets also remain positive, with a
shortage of housing, an ageing and underinvested housing stock, as
well as environmental and safety concerns driving legislation and
initiatives that will require improvements to homes on a larger
scale than just essential maintenance.
The Board will update shareholders further in our half year
trading update."
This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310 (as amended). Upon the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
Contact information
Epwin Group Plc
Jon Bednall, Chief Executive
Chris Empson, Group Finance Director 0203 128 8168
Shore Capital (Nominated Adviser and
Joint Broker)
Corporate Advisory
Edward Mansfield / Daniel Bush / Hugo 0207 408 4090
Masefield
Corporate Broking
Fiona Conroy
Zeus Capital Limited (Joint Broker)
John Goold / Dominic King 0203 829 5000
MHP Communications
Reg Hoare / Charlie Barker / Florence
Mayo / Pandora Yadgaroff 0203 128 8168
About Epwin
Epwin is the leading manufacturer of low maintenance building
products with significant market shares, supplying the Repair,
Maintenance and Improvement ("RMI"), new build and social housing
sectors.
The Company is incorporated, domiciled and operates principally
in the United Kingdom.
Information for investors can be accessed
www.epwin.co.uk/investors/
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END
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