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(Alliance News) - Alumasc Group PLC on Tuesday reported conditions in its markets have remained positive, resulting in a "record" profit for the first half.
Shares in Alumasc were up 22% at 138.00 pence in London in afternoon trading.
The Kettering, Northamptonshire-based building products supplier said revenue increased 11% year-on-year to GBP45.6 million in the six months to the end of December, and underlying pretax profit surged to GBP6.0 million from GBP2.3 million.
This was due to its businesses being successful in winning market share, the company explained, and was further supported by encouraging export sales.
Alumasc said cash generation has been strong in the first year-half, with its net debt falling significantly to GBP200,000 at December 31 from GBP4.3 million at June 30.
Looking ahead, the company said it has entered the second half with good momentum and a healthy forward sales position, creating the potential to deliver a strong result for the year despite the continued economic uncertainties as a result of the ongoing pandemic.
"It is very encouraging to see Alumasc's achievement of a double digit growth in revenues and also a double digit return on sales and [the first half-year] has absolutely shown the great potential for the group. In light of the businesses' momentum and strong cash conversion, a resumption of Alumasc's previous dividend policy is being considered by the board," said Chief Executive Paul Hooper.
Alumasc plans to publish its half-year results on February 4.
By Zoe Wickens; zoewickens@alliancenews.com
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