20th Oct 2005 10:35
Alumasc Group PLC20 October 2005 Thursday 20 October 2005 THE ALUMASC GROUP PLC Chairman's AGM Statement At the AGM in London this morning of Alumasc, the premium building andengineering products company, the Chairman, John McCall, will state: "In my statement accompanying last year's report and accounts, I drew attentionto the change that has occurred in the balance of our Group, with buildingproducts contributing two-thirds to Group profits following five years of stronggrowth. The first three months of the current financial year are showing asimilar pattern to the previous year, with our building products activitiescontinuing to grow, both in absolute terms and as a proportion of the whole. Highlights include the commencement of Alcoa's large new aluminium smelterproject in Iceland, incorporating our Armaseam standing-seam roofing system, andthe continued refurbishment of social housing in the UK, which benefits our MRexternal wall insulation business. This growth, coupled with the restructuring that has occurred over the pastyear, will further increase the bias in the Group's activity in favour of thesecond half year, ie January to June. Last year's split in ongoing turnover (47:53) and profit (44:56) is expected to become wider in the current year, as aresult. Our engineering and industrial businesses remain active in developing newprojects and products, as reported in last year's accounts, and encouraginginterest was expressed at the recent Drinktec exhibition in Germany in AlumascDispense's Wireless Energy Transfer (WET) technology and in Trimcool, itsradical new beer cooling system. Negotiations are continuing for the sale of Copal Casting, our WestMidlands-based gravity casting business. Looking to the future, Alumasc, with its well-regarded niche brands, focus onpremium products and service, good customer relationships and strong balancesheet, is well placed for further successful development." Enquiries: The Alumasc Group plc 01536-383 844John McCall (Chairman)Paul Hooper (Chief Executive) Bankside Consultants LimitedCharles Ponsonby 020-7367 8851 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Alumasc Group