25th May 2022 11:08
(Alliance News) - Volution Group PLC on Wednesday said its order books and activity levels are high, despite supply chain disruption.
"We therefore expect our earnings to be towards the upper end of market expectations for the current financial year," the company said, without specifying what it believes market expectations to be.
Volution is a Crawley, West Sussex-based designer and manufacturer of energy-efficient indoor air quality products. In the six months that ended January 31, Volution recorded pretax profit of GBP21.4 million, up 51% from GBP14.2 million a year before.
Volution said the company continues to perform strongly through the second half of our financial year, with third-quarter revenue growth of 17.6% at constant currency.
The company said it has been particularly encouraged by its UK residential revenue, where growth rates have accelerated in the second half of the year.
Chief Executive Officer Ronnie George said: "We have continued with the strong progress shown in the first half of our financial year through our third quarter. Our proactive and early initiatives to manage supply chain and to build inventory during the first half of the year continue to underpin very good levels of customer service and our consistently disciplined approach to managing price has ensured we maintain our strong operating margins."
Volution shares were up 7.2% at 381.00 pence each on Wednesday morning in London.
By Xindi Wei; [email protected]
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