Alumasc Group PLC AGM Statement (2303E)
27 Octubre 2022 - 1:00AM
UK Regulatory
TIDMALU
RNS Number : 2303E
Alumasc Group PLC
27 October 2022
27 October 2022
THE ALUMASC GROUP PLC
('Alumasc' or 'the Group')
AGM Trading Update and Capital Markets Day
Robust performance to date, strong platform for long term
growth
In advance of the Annual General Meeting of Alumasc, the premium
sustainable building products, systems and solutions group, to be
held this morning at 10.00am, the Group provides the following
trading update.
The Group is pleased to report that following the strong
performance in the year ended 30 June 2022, and the disposal of
Levolux on 26 August 2022, trading in our continuing operations
over the first quarter of the current financial year has remained
robust. Both volumes and margins in our continuing operations have
been strong, and ahead of the corresponding prior year period.
Transportation costs and material prices are stabilising, although
exchange rates and energy prices remain volatile and have the
potential to impact costs further.
Our balance sheet position remains strong, and the business is
well funded, with a low level of net debt and a pension deficit
which has reduced materially over the last five years.
We believe the growing demand from our customers for
environmental solutions, our portfolio of strong brands and
sustainable building materials, together with the agility of our
businesses, provide resilience against any potential adverse
trading conditions caused by rising interest rates and the wider
economic uncertainty.
At our Capital Markets Day later today, we will be presenting an
update on these drivers, on the strong platform we have in place,
and setting out our growth strategy to deliver long term value for
shareholders. The Board confirms no further material information
will be disclosed within the presentations, which will shortly be
made available on our website.
Vijay Thakrar, Chairman of The Alumasc Group plc, said: "We have
three strong divisions with excellent teams aiming to deliver
ambitious growth in their markets, all of whom have well-defined
strategies for delivering their goals. The Board is focused on
supporting these divisions to purse their ambitions."
Paul Hooper, Chief Executive of The Alumasc Group plc,
commented: "Despite the gathering storm clouds, we have continued
the strong performance that we finished the prior year with. We aim
to continue to offset any emerging UK market weakness through
self-help, be that further operating efficiencies or taking current
and new products into wider markets. Examples of these include the
recent launch of Roof Tile Vents into a new market for our
Housebuilding Products, early signs of which are encouraging, and
expanding our growing export business."
For further information please contact:
The Alumasc Group plc
Paul Hooper, Chief Executive +44 (0)1536 383 844
Simon Dray, Group Finance Director +44 (0)1536 383 844
Peel Hunt (Broker) +44 (0)207 418 8831
Mike Bell
Ed Allsopp
finnCap (Nominated Adviser) +44 (0)207 220 0561
Julian Blunt
Camarco (Financial PR) alumasc@camarco.co.uk
Ginny Pulbrook +44 (0)203 757 4992
Rosie Driscoll +44 (0)203 757 4981
email: alumasc@camarco.co.uk
Notes to Editors:
1 Alumasc is a UK-based supplier of premium sustainable building
products, systems and solutions. Almost 80% of Group sales are
driven by building regulations and specifications
(developers/housebuilders, architects and structural engineers)
because of the performance characteristics offered.
2 The Group has three business segments with strong positions
and brands in their individual markets. The three segments are:
Water Management; Building Envelope; and Housebuilding
Products.
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END
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