26th Jan 2024 11:52
Stelrad Group PLC - Newcastle upon Tyne, England-based manufacturer and distributor of steel panel radiators - Says 2023 adjusted operating profit will be about GBP29 million, in line with market consensus of GBP28.5 million but down 15% from GBP34.0 million in 2022. Revenue is about GBP308 million, down 2.6% from GBP316.3 million the year before. Excluding the full-year benefit from Stelrad's acquisition of Radiators Spa, like-for-like revenue is down 13%. Stelrad says high inflation and rising interest rates reduced new construction and renovation activity in the second half of last year. Read More
