Epwin Group PLC AGM Trading Update (5074M)
24 Mayo 2022 - 1:00AM
UK Regulatory
TIDMEPWN
RNS Number : 5074M
Epwin Group PLC
24 May 2022
24 May 2022
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.
Epwin Group Plc
AGM trading update
Epwin Group Plc (AIM: EPWN) ("Epwin" or the "Group"), the
leading manufacturer of energy efficient and low maintenance
building products, supplying the Repair, Maintenance and
Improvement ("RMI"), new build and social housing sectors announces
that the Company's Chairman, Andrew Eastgate, will make the
following statement in respect of current trading at today's Annual
General Meeting:
"I am pleased to report a continued strong trading performance
in the first four months of the year, with revenues to 30 April
2022 15% ahead of a strong comparative period in 2021. Demand
remains robust, particularly from the key RMI market.
"Material costs, particularly PVC resin, have continued to
increase during the year, mainly as a result of the tragic events
in Ukraine. The Group's strong relationships with its PVC resin
suppliers have ensured it has been able to secure material supply.
The Group continues to work with its customers to pass these costs
on equitably through price increases and surcharges and remains
confident in its ability to manage further cost inflation.
"The Group continues to make progress in pursuing its strategic
objectives, including value enhancing acquisitions, and expects to
make further market share gains whilst managing the challenges that
the current operating environment presents. The Group retains a
strong balance sheet and as at 30 April the Group had in excess of
GBP55 million of headroom on its banking facilities.
"The Board remains confident of achieving its expectations in
2022, whilst mindful of the widely reported challenging
macro-economic conditions.
"Looking further ahead, the strength of the medium and long-term
drivers of growth in our markets gives the Board confidence in the
outlook for the Group. The UK has an ageing and under invested
housing stock and there is an increasing focus on environmental,
energy efficiency and safety concerns. Additionally, the lockdowns
of the last few years have stimulated demand for home, garden and
leisure spending, alongside the desire of consumers to create
workspace in the home.
The Board will update shareholders further in our half year
trading update."
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 0207 408 4090
Daniel Bush / Iain Sexton
Corporate Broking
Fiona Conroy
Zeus Capital Limited (Joint Broker)
Dominic King / Nick Searle 0203 829 5000
MHP Communications 0203 128 8168
Reg Hoare / Charlie Barker / Pauline epwin@mhpc.com
Guenot
About Epwin
Epwin is the leading manufacturer of energy efficient and 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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