3rd Sep 2021 11:46
Eurocell PLC - Alfreton, England-based UPVC products provider - Posts strong first half results and reinstates dividend payments. For six months to June 30, revenue was GBP168.1 million, up 80% from GBP93.6 million last year and swings to pretax profit of GBP14.2 million, from GBP16.5 million loss. Eurocell declares an interim dividend of 3.2p per share, having paid nothing at the same time last year.
Chief Executive Mark Kelly says: "We entered 2021 well placed to take advantage of the continued recovery in our markets and we have delivered strong financial results for the first half. A very good sales performance has been underpinned by the success of our commercial strategies and high levels of demand in the RMI market. We believe we are also continuing to take market share."
Notes supply chain pressures but has secured most of the raw materials required.
"Trading performance in July and August has continued to be robust. With the industry close to capacity and lead times growing, we are becoming more confident that these market conditions will continue for the foreseeable future. Reflecting these factors, and notwithstanding very tight supply chains, labour and transport availability, the board is now again raising its expectations for the full year," Kelly adds.
Current stock price: 286.0 pence, up 7.1% Friday
Year-to-date change: up 32%
By Paul McGowan; [email protected]
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