IN BRIEF: Autins full-year trading in line despite Middle East impact
Autins Group PLC - Rugby, Warwickshire-based maker of acoustic and thermal insulation solutions - Announces a trading update in advance of its annual general meeting on Wednesday. Says revenue in the first five months of the financial year ending March 31 2027 is GBP8.0 million, up from GBP7.7 million the year prior, albeit overall trading performance during the period has been impacted primarily by increased raw material and transport costs as a consequence of the Iran war. Autins is monitoring its cost base closely and has implemented a cost savings programme with benefits expected to build through the remainder of the financial year. Performance will be weighted towards the second half of the financial year as new projects begin to enter production and the impact of the cost-saving measures take effect. Overall, trading for the full year remains in line with market expectations. Company understands market forecasts for FY27 to be revenue of GBP21.8 million and a profit after tax of GBP800,000. Chief Executive Andy Bloomer says: "Our European businesses continue to outperform, gaining significant traction with multiple car makers, despite the continued headwinds faced by the automotive industry. In the UK, production of our proprietary Neptune material is at record levels, helping to offset the impact of lower UK vehicle production volumes. The wider UK manufacturing environment remains challenging, with increased energy, labour and input costs putting pressure on margins." Read More