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12 Jul 2013 07:00
THE ALUMASC GROUP PLC
TRADING UPDATE - JULY 2013
For release 7.00am on 12 July 2013
The Alumasc Group plc (ALU.L) is today making a trading update for the financial year ended 30 June 2013, ahead of its annual results announcement on 3 September 2013.
Since the interim management statement on 15 May 2013, the group has continued to trade well.
The Building Products division grew its revenues year on year by almost 20%, a clear outperformance relative to the UK construction market. Execution and delivery on construction projects has been strong, including those that were either completed or substantially completed in the weeks leading up to the financial year end.
Sales volumes recovered in the Engineering Products division in the fourth quarter, but not to the levels seen in the early part of the financial year. Therefore, despite continued progress, Alumasc Precision Components has not yet recovered to a break even run rate. Dyson Diecastings, however, continues to trade strongly. Both businesses have recently won important new contracts that are expected to benefit the 2013/14 financial year.
As a result of this overall performance, underlying group profit before tax for the year will be ahead of management's previous expectations.
The group's cash flow performance has also continued to be ahead of expectations, with net debt at the year end expected to be approximately £8 million.
Group order books remain strong at £44 million.
ENDS
Enquiries:
The Alumasc Group plc
Paul Hooper (Group Chief Executive) Tel: 01536 383821
Andrew Magson (Group Finance Director) Tel: 01536 383844
Bankside Consultants
Simon Bloomfield Tel: 0207 367 8861
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