AGM Statement

Released : 26 October 2017 07:00

RNS Number : 6363U
Alumasc Group PLC
26 October 2017
 

THE ALUMASC GROUP PLC

AGM TRADING STATEMENT FOR THE FINANCIAL YEAR ENDING 30 JUNE 2018

26 OCTOBER 2017

 

 

Against the background of relatively flat demand in the UK construction market, Alumasc's like-for-like domestic revenues have increased by 4% year to date, reflecting the benefits of the group's strategic focus in differentiated, specialist market segments. Meanwhile, export sales in the year to date are lower than the prior year, reflecting the later phasing of larger projects.

 

Levolux has a strong forward order book, providing good visibility for the year as a whole. This includes a number of significant balcony, balustrading and international projects expected to be delivered substantially in the second half year.

 

Similarly, larger framework agreements and green roof projects at Alumasc Roofing and the latest tranche of Scottish government funded social housing refurbishment work at Alumasc Facades will be phased principally towards the second half year.

 

In Water Management, AWMS has started the year positively with revenue growth ahead of its UK end user markets. Gatic is pursuing a number of identified large export opportunities and would expect to secure its fair share of these. In addition, we have initiated further price increases in response to further input cost pressure, which we expect largely to mitigate any adverse impact on margins for the financial year as a whole.

 

Timloc building products continues to perform strongly and expects to commission its new factory around the half year stage. This will provide an enhanced platform to support further growth in the business.

 

Across the group, both existing order books and a strong pre-order pipeline include a number of larger projects. These typically make a significant profit contribution to overheads and are scheduled to be delivered and completed mainly in the second half of the financial year. As a result, the group's financial performance is expected to have a greater weighting towards the second half than was the case last year.

 

Whilst we are mindful of the risks of ongoing economic uncertainty, we are confident that our strategy will enable the group to continue to outperform its underlying markets and the Board's expectations for full year results remain unchanged.

 

 

 

 

Enquiries:

 

The Alumasc Group plc

Paul Hooper (Chief Executive)                                                                                                   01536 383821

Andrew Magson (Finance Director)                                                                                         01536 383844

 

Glenmill Partners Limited

Simon Bloomfield                                                                                                                            07771 758514

 

 


This information is provided by RNS
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