Volution Group PLC - Crawley, England-based supplier of ventilation products to the residential and commercial construction markets - Posts a revenue in the financial year ended July 31 of GBP216.6 million, down 8.1% from GBP235.7 million a year prior. Posts pretax profit of GBP14.5 million, down 37% from GBP23.1 million a year before. Does not declare a final dividend, meaning no dividends were paid for the year after the company cancelled an interim dividend. Says it plans to recommence payment of dividends for the 2021 financial year. Says outlook remains uncertain but has seen a good start to the new financial year.
The company said: "We have seen strong organic revenue growth of 7% in the first two months of the new financial year, driven by our geographic diversity, structural drivers in the form of more stringent air quality regulations, our market leading positions and a strong demand in the refurbishment markets from customers upgrading their ventilation solutions."
Current stock price: 179.00 pence
Year-to-date change: down 30%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Volution Group PLS (FAN)