ukcitymedia news feed

Alumasc maintains a strong order book - interim highlights, CEO comments

Alumasc maintains a strong order book - interim highlights, CEO comments

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."

 

Financial Review:

 

·      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:

 

  • Developing further opportunities for specification cross selling a “building envelope” of the group’s exterior building products
     
  • Improving the group’s quality of earnings and operating margins through the proactive management of the group’s portfolio of businesses
     
  • Developing a more cost-efficient operating structure, with action taken to deliver £1 million of annualised cost savings in financial year 2019/20 
     
  • Prioritising and focusing investment to support both organic growth opportunities and acquisitions
     
  • As previously announced, Alumasc intends to re-list its shares on the Alternative Investment Market (AIM) later this financial year

 

Outlook:

 

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.

 



These articles are summaries / highlights and dont always include all financial news updates. Check at company website INVESTORS INFORMATION for full published results.


Add a comment


Username:


Email:


Security key:


Message:






More

ukcitymedia news feed

Please take our RSS Feed and news to your Network and message boards. With thanks





 


ukcitymedia moderates but does not authenicate postings. Users are reminded that shares and all trading instruments by nature do not always prove to be good investments. Readers are reminded to do your own research. ukcitymedia.co.uk delivers UK stock market news, latest shares news, uk financial news, rns news articles, latest business news, latest uk financial news, stockmarket investment news, business news round-ups. director dealings bulletins, stock market reports, share trading articles, latest finance news, broker recommendations, uk city news, latest financial information. ukcitymedia.co.uk does not offer financial advice.