Alumasc backs annual outlook after broad-based first-half progress

(Alliance News) - Alumasc Group PLC on Tuesday reported strong growth in half-year sales and profit which it called "particularly impressive" given the the challenging market environment.

The Kettering, England-based supplier of building and engineering products said statutory pretax profit rose 16% to GBP6.5 million in the months to December 31 from GBP5.6 million a year prior.

Underlying pretax profit grew 19% to a record GBP7.5 million from GBP6.3 million, with organic growth in all three divisions.

Group revenue increased 20% to GBP57.4 million from GBP47.8 million, with organic growth in all three divisions.

Revenue in Water Management jumped 34% to GBP29.6 million from GBP22.0 million on increased export sales, including accelerated deliveries to the Hong Kong airport project.

ARP Group, acquired in December 2023, contributed GBP5.7 million to Water Management revenue, while developing cross-selling and purchasing synergies.

Building Envelope division grew robustly, with revenues up 8% to GBP20.2 million from GBP18.7 million. Housebuilding Products revenue rose 5.6% to GBP7.5 million GBP7.1 million.

Alumasc said it is well-positioned to continue to outperform the UK general construction market through revenue growth initiatives, product innovation and customer service, while investing selectively in overseas markets to drive export growth.

"The board continues to remain confident both in the group achieving its expectations for the year to June 2025, and in the significant opportunities available over the medium and longer term," it said in a statement.

Chief Executive Paul Hooper said it is a "particularly impressive result given the challenging market environment".

"All three divisions have demonstrated continued growth in revenue, highlighting the resilience of our business model," he added, noting "significant progress in expanding our presence in export markets, which should benefit future periods' revenues and profits."

"We are particularly excited about the performance of ARP Group, who have exceeded expectations since joining the group in December 2023. We are confident that we will continue to see synergies and efficiencies come through in the second half."

Shares in Alumasc closed 5.0% higher at 302.00 pence each in London on Tuesday.

By Jeremy Cutler, Alliance News reporter

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