11th Sep 2024 16:33
(Alliance News) - Epwin Group PLC on Wednesday expressed confidence in its expectations for the full-year, despite seeing revenue decline over the half.
For the six months ended June 30, the Solihull, England-based building products manufacturer reported pretax profit of GBP8.0 million, up from GBP7.9 million a year prior.
By contrast, revenue fell to GBP158.0 million from GBP180.0 million.
The decline followed a strong comparative half in 2023, as a result of lower PVC input prices, which reduced previously levied surcharges and subdued demand in the group's core markets.
Nevertheless, Epwin upped its interim dividend per share to 2.10 pence, from 2.00p the year previously.
"Trading in the first half was consistent with the board's expectations, with underlying profit in line with a strong 2023 comparative, despite challenging markets. We remain confident of achieving our full year expectations, with a further year of profit progression and business development," said Chief Executive Officer Jon Bednall.
Shares in Epwin Group were trading 3.5% lower at 95.50 pence each in London on Wednesday afternoon.
By Holly Beveridge, Alliance News senior reporter
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