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(Alliance News) - Eurocell PLC said on Friday there had been a decline in sales in the first four months of 2023, and predicted a decrease in profit, amidst the appointment of a new chief executive.
Eurocell is an Alfreton, England-based manufacturer, recycler and distributor of window, door and roofline PVC products.
The company said group sales were down 2% in the four months ended April 30 compared to the same period last year, and its Building Plastics division was also down 3%.
Eurocell said that whilst it had benefitted from market share gains in its Profiles division, trading volumes were down 6% due to weaknesses in repair, maintenance and improvement, and new build markets.
The company said that they expect adjusted profit before tax to come in below current market expectations this year, based on the Construction Product Association's forecast of decline in new build to 17% from 11% previously.
The company also announced that Darren Waters had assumed the position of CEO.
Eurocell was trading down 14% at 110.00 pence on Friday morning.
By Will Neill, Alliance News reporter
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