Volution Group plc Trading Update (7747V)
August 12 2015 - 1:00AM
UK Regulatory
TIDMFAN
RNS Number : 7747V
Volution Group plc
12 August 2015
For immediate release: Wednesday 12 August 2015
Volution Group plc
Trading Update
Strong top line growth, in line with expectations
Volution Group plc (LSE: FAN; "the Group"), a leading supplier
of ventilation products to the residential and commercial
construction market, today announces a trading update, following
the completion of its financial year on 31(st) July, 2015.
Revenue in the 12 month period was GBP130 million a 7.9%
increase compared with the prior year (12.4% on a constant currency
basis). This comprised 1.0% organic growth (4.9% on a constant
currency basis), with 7.5% the result of acquisitions (on a
constant currency basis), including the acquisition of Brüggemann
Energiekonzepte, completed in April 2015 and the full year effect
of the acquisition of inVENTer in April 2014.
Organic growth was helped by an increase in new build
residential systems sales in the UK where the Group enjoyed a 17.7%
growth in sales for new house applications. The acquisition of
Brüggemann in Germany, is being integrated into the wider Group;
this integration is progressing well, in line with the anticipated
timetable.
The Group continues to enjoy strong demand for its products,
especially newer, higher value-add ventilation systems and quieter,
more energy efficient fans, with several new products launched
towards the end of the financial year 2015.
The full year results for 2015 will be announced on 16(th)
October 2015.
Ronnie George, Chief Executive Officer of Volution Group plc,
said:
"This has been another year of strong progress for the Group. In
our first full financial year since listing on the London Stock
Exchange in June 2014, we have delivered both organic and
acquisition led growth. We are also delighted to have completed the
acquisition of the Ventilair Group on the 5(th) of August 2015 and
the process of integration and optimisation is progressing
well.
In spite of the significant impact of largely translational
currency headwinds, mitigated by revenue growth and further margin
expansion, the Group expects its full-year results to be in line
with the Board's expectations."
Ends
Enquiries:
Volution Group plc
Ronnie George, Chief Executive Officer +44 (0) 1293 441501
Ian Dew, Chief Financial Officer +44 (0) 1293 441536
Brunswick +44 (0) 20 7404 5959
volution@brunswickgroup.com
Craig Breheny, Simone Selzer, Chris Buscombe
Note to Editors
Volution Group plc (LSE: FAN) is a leading supplier of
ventilation products to the residential and commercial construction
market in the UK, the Nordics, Germany and Benelux countries.
The Group sold approximately 21 million ventilation products and
accessories in the twelve months ended 31 July 2015. The Volution
Group operates through two divisions: the Ventilation Group and the
OEM (Torin -Sifan) division. The Ventilation Group consists of 7
key brands - Vent-Axia, Manrose, Fresh, PAX, inVENTer, Brüggemann
and Ventilair focused primarily on the UK, Nordic, German and
Benelux ventilation markets. The Ventilation Group principally
supplies ventilation products for residential and commercial
ventilation applications. The OEM division (Torin-Sifan), supplies
motors, fans and blowers to OEMs of heating and ventilation
products for both residential and commercial construction
applications in Europe.
For more information, please go to:
http://www.volutiongroupplc.com/
Cautionary statement regarding forward-looking statements
Certain statements made in this announcement may be
forward-looking statements. Such statements are based on current
expectations and assumptions and are subject to a number of known
and unknown risks and uncertainties that may cause actual events or
results to differ materially from any expected future events or
results expressed or implied in these forward-looking statements.
Persons receiving this announcement should not place undue reliance
on forward-looking statements. Unless otherwise required by
applicable law, regulation or accounting standard, the Group does
not undertake to update or revise any forward-looking statements,
whether as a result of new information, future developments or
otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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