AGM Trading Update

RNS Number : 5074M

Epwin Group PLC

24 May 2022

 

24 May 2022

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Epwin Group Plc

AGM trading update

Epwin Group Plc (AIM: EPWN) ("Epwin" or the "Group"), the leading manufacturer of energy efficient and low maintenance building products, supplying the Repair, Maintenance and Improvement ("RMI"), new build and social housing sectors announces that the Company's Chairman, Andrew Eastgate, will make the following statement in respect of current trading at today's Annual General Meeting:

"I am pleased to report a continued strong trading performance in the first four months of the year, with revenues to 30 April 2022 15% ahead of a strong comparative period in 2021. Demand remains robust, particularly from the key RMI market.

"Material costs, particularly PVC resin, have continued to increase during the year, mainly as a result of the tragic events in Ukraine. The Group's strong relationships with its PVC resin suppliers have ensured it has been able to secure material supply. The Group continues to work with its customers to pass these costs on equitably through price increases and surcharges and remains confident in its ability to manage further cost inflation.

"The Group continues to make progress in pursuing its strategic objectives, including value enhancing acquisitions, and expects to make further market share gains whilst managing the challenges that the current operating environment presents. The Group retains a strong balance sheet and as at 30 April the Group had in excess of £55 million of headroom on its banking facilities.

"The Board remains confident of achieving its expectations in 2022, whilst mindful of the widely reported challenging macro-economic conditions.

"Looking further ahead, the strength of the medium and long-term drivers of growth in our markets gives the Board confidence in the outlook for the Group. The UK has an ageing and under invested housing stock and there is an increasing focus on environmental, energy efficiency and safety concerns.  Additionally, the lockdowns of the last few years have stimulated demand for home, garden and leisure spending, alongside the desire of consumers to create workspace in the home.   

The Board will update shareholders further in our half year trading update."

Contact information

Epwin Group Plc Jon Bednall, Chief Executive Chris Empson, Group Finance Director	0203 128 8168
Shore Capital (Nominated Adviser and Joint Broker) Corporate Advisory Daniel Bush / Iain Sexton Corporate Broking Fiona Conroy Zeus Capital Limited (Joint Broker) Dominic King / Nick Searle	0207 408 4090 0203 829 5000
MHP Communications Reg Hoare / Charlie Barker / Pauline Guenot	0203 128 8168 [e-mail]

About Epwin

Epwin is the leading manufacturer of energy efficient and low maintenance building products with significant market shares, supplying the Repair, Maintenance and Improvement (" RMI"), new build and social housing sectors.

The Company is incorporated, domiciled and operates principally in the United Kingdom.

Information for investors can be accessed www.epwin.co.uk/investors/

 

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