12th Aug 2014 08:05
LONDON (Alliance News) - Volution Group PLC Tuesday said it expects results for its last financial year to be reported in line with expectations, as it disclosed an 18% increase in revenue in the period.
In a trading update for the year ended July 31, the ventilation product supplier said revenue amounted to GBP121.0 million in the 12 month period. It said this was made up of 3.3% organic growth, helped by an increase in new-build residential systems sales in the UK, and 15% the result of acquisitions, including that of Pax in Sweden in August 2013.
The integration of the more recent acquisition of InVENTer in Germany, in April 2014, is "progressing well, in line with the anticipated timetable," Volution said.
The group said it is enjoying strong demand for its products, especially newer, higher value add ventilation systems.
"This has been a year of great progress for the group. As well as delivering both organic and acquisition led growth, we listed on the London Stock Exchange in June. Results for the year are anticipated to be in line with board expectations," Chief Executive Ronnie George said in a statement.
Shares were Tuesday untraded at 140.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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