15th Jan 2021 11:04
Eurocell PLC - window, door and roofline PVC products - Sales for the second half of 2020 reaches GBP164 million, a 15% year-on-year increase, and an improvement compared to the 31% fall in revenue in the first half to GBP94 million.
For 2020 as a whole, sales declined by 7.9% to GBP257 million from GBP279.1 million. However, on a like-for-like basis, sales grew by 8%.
Repair, maintenance and improvement market was stronger in second half, as was house building activity due to high levels of mortgage approvals.
Looking ahead, due to stronger than expected sales for November and December, Eurocell expects underlying pretax profit to be ahead of current expectations. For 2019, underlying pretax profit was GBP22.7 million.
In addition, Eurocell still intends to resume dividend payments in 2021. The group will publish its annual results on March 11.
Current stock price: 238.96 pence
Year-to-date change: up 11%
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Eurocell