Alumasc Group PLC AGM Statement (6363U)
October 26 2017 - 2:00AM
UK Regulatory
TIDMALU
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
The company news service from the London Stock Exchange
END
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