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Alumasc Group Plc (ALU)

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Wednesday 15 May, 2013

Alumasc Group Plc

Interim Management Statement

RNS Number : 7174E
Alumasc Group PLC
15 May 2013
 



 FOR IMMEDIATE RELEASE                                                                                       15 May 2013

 

THE ALUMASC GROUP PLC - INTERIM MANAGEMENT STATEMENT

 

Alumasc, the premium building and engineering products company, is publishing its final interim management statement for the year ending 30 June 2013, covering the period from 1 January 2013 to date.

 

Trading has continued to be satisfactory overall. Accordingly, the Board anticipates that results for the full year will be in line with its expectations.

 

The Building Products division has continued to outperform both a weak construction market and our own expectations, benefiting in particular from:

 

·    buoyant demand for Alumasc Insulated Renders and Gatic engineered access covers;

 

·    Levolux's large solar shading project at Chiswick Park, which is now almost complete; and

 

·    the £11million project to supply roofing and walling products to the aluminium smelter refurbishment at Kitimat in Canada. This project remains on track and is now over 50% complete.

 

The Engineering Products division experienced a difficult winter, with the lower demand from OEM customers signalled at the half-year stage impacting both Alumasc Precision Components (APC) and Dyson Diecastings (Dyson) in the third quarter of the financial year.  Since then, there has been some modest recovery in activity levels.  Steady progress continues to be made in the recovery plan at APC and Dyson remains strongly profitable.

 

The group's order books are healthy at £44 million, and cash flow performance also remains strong and in line with our expectations.

 

Paul Hooper, Chief Executive, commented: "It is pleasing to report that Alumasc continues to deliver a much improved trading performance, led by ongoing profitable growth in the Building Products division, and that the group is on course to achieve the Board's expectations for the full financial year".

 

ENDS

 

Enquiries:

 

The Alumasc Group plc

Paul Hooper (Group Chief Executive)                                        Tel:  01536 383821

Andrew Magson (Group Finance Director)                                Tel:  01536 383844

 

Bankside Consultants

Simon Bloomfield                                                                      Tel: 0207 367 8888

Jasper Randall                                                                         

                                                           

 

This Interim Management Statement has been drawn up and presented for the purposes of complying with English laws and regulations.  Any liability arising out of or in connection with this Interim Management Statement will also be determined in accordance with English law.

 

This Interim Management Statement may contain 'forward-looking statements'.  By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances.  Many of these risks and uncertainties relate to factors either beyond The Alumasc Group's control or which cannot be estimated precisely, such as future market conditions and the behaviour of the market participants.  Actual outcomes and results may therefore differ materially from any outcomes or results expressed or implied by any such forward-looking statements.

 

Nothing in this Interim Management Statement is intended to be a profit forecast.

 


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