Stelrad Grp Share News (SRAD)

UK dividends calendar - next 7 days

Stelrad Group hails "robust" 2023 performance despite tough conditions

(Alliance News) - Stelrad Group PLC on Friday said it had increased profit despite enduring an "extremely challenging" trading environment in 2023, and expects to ride this momentum into 2024 and beyond.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Stelrad says 2023 results to be in line with expectations

Stelrad Group PLC - Newcastle upon Tyne, England-based manufacturer and distributor of steel panel radiators - Says 2023 adjusted operating profit will be about GBP29 million, in line with market consensus of GBP28.5 million but down 15% from GBP34.0 million in 2022. Revenue is about GBP308 million, down 2.6% from GBP316.3 million the year before. Excluding the full-year benefit from Stelrad's acquisition of Radiators Spa, like-for-like revenue is down 13%. Stelrad says high inflation and rising interest rates reduced new construction and renovation activity in the second half of last year.

IN BRIEF: Stelrad Senior Independent Director Terry Miller steps down

Stelrad Group PLC - Brazil-focused gold mining and development company - Non-Executive Director & Senior Independent Director Terry Miller plans to step down at the end of the year. Miller joined the company in October 2021 as part of its initial public offerings. Says a replacement will be appointed in due course.

EARNINGS AND TRADING: Treatt revenue up; Crossword cuts outlook

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and Monday and not separately reported by Alliance News:

TRADING UPDATES: Wishbone loss widens; Camellia hit by bad weather

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Stelrad interim profit doubles and revenue rises, maintains outlook

(Alliance News) - Stelrad Group PLC on Monday said its profit doubled in the first half of 2023, alongside rising revenue, while it maintained its full-year outlook and declared an unchanged dividend to shareholders.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Stelrad CFO Letham to retire after 20 years with company

Stelrad Group PLC - Newcastle-based manufacturer and distributor of steel panel radiators - Announces that Chief Financial Officer George Letham will step down from his role before the end of the year in order to retire. Letham will continue in his role until a successor is in place, in order to ensure a "smooth" transfer of responsibilities.

IN BRIEF: Stelrad maintains outlook after "encouraging start" to year

Stelrad Group PLC - Newcastle, England-based steel panel radiator manufacturer - Says 2023 performance to date is in line with management expectations, and reaffirms full-year outlook announced in March. Noted an "encouraging start" in the first four months, with UK volumes being particularly resilient. At the time Stelrad said it expected lower volumes seen in second half year to continue but stabilise into the current half year. Stelrad says volumes in the second half year should be stronger as trading returns to historical seasonal patterns after "exceptionally strong" first half prior year comparator. DL Radiators SPA meanwhile has been "successfully integrated" into Stelrad since acquisition in July.

UK shareholder meetings calendar - next 7 days

Stelrad multiplies dividend despite profit fall on positive outlook

(Alliance News) - Stelrad Group PLC on Monday steeply increased its annual payment to shareholders, despite profit falling and costs rising, citing resilience in its business model.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Stelrad expects a double-digit full-year revenue rise

Stelrad Group PLC - Newcastle, England-based steel panel radiator manufacturer - Says revenue in 2022 is estimated to be GBP312 million, up 15% from GBP272.3 million in 2021. Expects to deliver a record adjusted operating profit of GBP34 million, up from GBP33.2 million in 2021. Adds that "rising energy costs across Europe and the drive towards decarbonisation are both expected to underpin further, long-term demand for the group's products".