7th Oct 2021 14:47
Volution Group PLC - Crawley, West Sussex-based designer and manufacturer of energy efficient indoor air quality products - Reports "record results" with full year revenue of GBP272.6 million, up 26% from GBP216.6 million last year. Pretax profit jumps to GBP30.0 million from GBP14.6 million. Secures price rises to mitigate the impact of cost inflation, accelerated by supply chain and logistic disruptions. Declares final dividend of 4.4 pence per share, making total payout 6.3p. Net debt at the year end is GBP79.2 million, GBP5.0 million higher than last year due to three acquisitions in the year. Fourth acquisition completes early in the new financial year.
"All four acquisitions are ventilation solution providers of predominantly low-carbon solutions and a perfect fit with our purpose of providing 'Healthy Air, Sustainably'," says Chief Executive Ronnie George. "We made excellent progress with our key sustainability metrics, increasing the proportion of our sales that are low-carbon solutions and a further increase in the usage of recycled plastic materials in our products."
Also on Thursday, says Senior Independent Director Tony Reading will leave the board at Volution's December 9 annual general meeting. Promotes Amanda Mellor to senior independent director.
Current stock price: 465.00 pence
Year-to-date change: up 67%
By Josie O'Brien; [email protected]
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