LONDON (Alliance News) - Ventilation products supplier Volution Group PLC on Wednesday said its revenue for the year to the end of July was higher, boosted by the acquisition of Brüggemann Energiekonzepte.
Volution said its revenue for the year to the end of July was GBP130 million, up by 7.9% year-on-year and up 12% on a constant currency basis. The growth was driven by 1.0% organic growth in the year, with the rest coming from acquisitions, including Germany-based decentralised heat recovery ventilation supplier Brüggemann, which it completed in April.
Volution said its growth in the year was helped by a rise in new-build residential sales in the UK and said demand for its products remains robust.
It will publish its full-year results on October 16.
"In spite of the significant impact of largely translational currency headwinds, mitigated by revenue growth and further margin expansion, the group expects its full-year results to be in line with the board's expectations," said Chief Executive Ronnie George.
Shares in the company were up 1.0% to 165.35 pence early Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Volution Group PLS (FAN)