Thu 31 Jan 2019 07:48 by ukcitymedia.co.uk about : trading updates - 0 Comments - 1235 words
Alumasc (ALU.L), the premium building products, systems and solutions group, announces its interim results for the half year ended 31 December 2018.
Paul Hooper, Chief Executive, said:
"The first half of the year has seen Alumasc continue to focus on the key strategic growth drivers for our portfolio of businesses. Whilst overall performance continues to reflect the continuing challenging market conditions, we expect the second half to benefit from strong order books and recent management action taken to increase profit. Together with strategic initiatives undertaken in the past eighteen months, we remain confident in the future."
· Revenues from continuing operations up 4% to £44.3 million (2017/18: £42.6 million)
· Underlying profit before tax £2.3 million (2017/18: £3.5 million)
· Order book at 31 December 2018 of £27.5 million, up 17% year on year
· Basic earnings per share of 8.4 pence (2017/18: 6.9 pence) benefiting from net non-recurring credits
· Unchanged interim dividend of 2.95 pence per share
· Reduction in net debt from £4.8 million at 30 June 2018 to £0.3 million at 31 December 2018
Continued Strategic Development:
Despite the challenging market conditions, the Board is encouraged by order intake levels and expects a much stronger performance in the second half year than the first. The Board is though mindful of the risks posed by the current economic uncertainty to the UK construction sector as well as any further delays in project pipeline conversion.
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