Epwin Group PLC Trading Statement (2485E)
08 February 2018 - 6:00PM
UK Regulatory
TIDMEPWN
RNS Number : 2485E
Epwin Group PLC
08 February 2018
8 February 2018
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Epwin Group Plc
("Epwin" or the "Group")
Year-end trading update and notice of results
Epwin Group Plc, the low maintenance building products
manufacturer, supplying businesses in the Repair, Maintenance and
Improvement ("RMI"), new build and social housing sectors,
announces its trading update in respect of the year ended 31
December 2017 and notice of its full year results.
Trading update
The Group's operating profits, before non-underlying items, for
the year ended 31 December 2017 are expected to be in line with
market expectations. Net debt at the year-end is also expected to
be in line with market expectations, with leverage at less than 1x
underlying EBITDA.
The Group's performance has been resilient, despite the
previously reported issues affecting the Group's two largest
customers and the input cost inflation experienced during the year.
The Group has continued to deliver on its strategy, particularly
noting the strong sales of the Profile 22 Optima window profile
system and WPC decking products.
Our programme of operational improvement continues, having
completed the consolidation of our glass production facilities onto
one site and the phased consolidation of two further production
units onto one site is progressing well. In addition, we continue
to develop our logistics capabilities at the Scunthorpe site with
new warehousing.
We expect market conditions to remain challenging in the near
term and anticipate that the RMI market will continue to be subdued
in 2018. Despite this, we expect to make further progress with our
strategy focussed on operational improvement, broadening the
product portfolio, selective acquisitions, cross selling and market
share growth in key sectors to build a platform for future
growth.
Notice of results
The Group will announce its full year results for the year ended
31 December 2017 on 11 April 2018.
Jon Bednall, CEO of Epwin, commented:
"Epwin delivered a resilient performance in 2017, despite the
issues affecting the Group's two largest customers and the
significant increases in input costs. In the second half of the
year we progressed with our strategy of broadening our product
portfolio and channels to market, as well as continuing our
programme of operational efficiency improvements through further
site consolidation. We remain confident in the long term drivers in
the RMI market and continuing our record of strong cash
generation."
Contact information
Epwin Group Plc
Jon Bednall, Chief Executive
Chris Empson, Group Finance
Director 0203 128 8100
Zeus Capital Limited (Nomad
and Joint Broker)
Nick Cowles / Jamie Peel 0161 831 1512
John Goold / Dominic King 0203 829 5000
Panmure Gordon (UK) Limited
(Joint Broker)
Erik Anderson / Andrew
Potts 0207 886 2500
MHP Communications
Reg Hoare / Charlie Barker 0203 128 8100
This information is provided by RNS
The company news service from the London Stock Exchange
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