28th Oct 2019 10:20
(Alliance News) - Autins Group PLC said Monday it expect to report results for the financial year that ended September 30 that are in line with market expectations after a challenging year for the company.
The acoustic and thermal insulation manufacturer said extensive management actions were employed to reduce costs and increase operational efficiency, which have delivered improved profit margins.
The company said its sales to customers outside of the UK "are progressing well" and the board "is pleased" with the developments made by its lightweight, high performance material Neptune in "securing multiple new business client wins".
Gareth Kaminski-Cook, chief executive officer, said: "This has been a challenging year for both the industry and the group, but it has also been a year of repositioning, recovery and new business wins."
"The positive momentum is encouraging and, combined with a stronger balance sheet following the successful placing in the summer, gives cause for optimism for the year ahead," Kaminski-Cook said.
Autins shares were up 2.4% in London at 21.00 pence each on Monday.
By Loreta Juodagalvyte; [email protected]
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