4th Apr 2023 14:18
Epwin Group PLC - Solihull, England-based building products manufacturer - Posts revenue of GBP355.8 million for 2022, up 7.9% from GBP329.6 million in 2021. However, cost of sales increase 5.7% to GBP250.5 million from GBP236.9 million, while administrative expenses widen 33% to GBP48.3 million from GBP36.3 million. Reports a goodwill impairment of GBP3.0 million in 2022, compared to none in 2021. Notes strong trading performance, demonstrating "continued resilience of core products and markets", Epwin says. Revenue growth is predominantly driven by selling price increases to recover the continuing impact of inflation. Pretax profit is down to GBP11.9 million from GBP12.9 million, as basic earnings per share fall to 5.78 pence each from 8.61p a year earlier. Operating profit drops to GBP16.9 million from GBP17.7 million. Read More
