Last checked at 19 May 2017 07:00
19 May 2017
EUROCELL PLC
(Symbol: ECEL)
AGM Trading Update
Eurocell provides an update on its trading performance for the first four months of 2017, in advance of our Annual General Meeting which is being held at 12 noon today in Alfreton.
Trading and Operational Performance
We have had a positive start to 2017 and current trading is consistent with our expectations for the full year.
In the Profiles division, our larger fabricators continue to grow strongly, taking a greater share of the available volume mix. We are building our prospect pipeline and will be moving a number of new customers onto our product systems over the remainder of the year. In the Building Plastics division, trading in the expanding branch network continues to be strong.
Raw material price pressure remains, particularly for resin and we are implementing selling price increases to mitigate this. The market lags supplier price increases and we are managing our underlying operating costs tightly.
We have made good progress with key strategic initiatives, which include:
· Expanding the branch network - on track to open 30 new branches in 2017, with 10 new sites so far this year
· Recycling - use of recycled material increased as anticipated
· Acquisitions - integration of Security Hardware progressing in line with our plans
Overall, we have made a good start to the year and are taking share in a broadly flat RMI market.
Notice of Results
We will announce our half year results for the six months ending 30 June 2017 on 2 August 2017.
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Notes:
Eurocell plc is a market leading, vertically integrated UK manufacturer, recycler and distributor of innovative window, door and roofline PVC products.
Enquiries:
Eurocell plc
Mark Kelly, Chief Executive Officer
+44 (0) 1773 842 105
Michael Scott, Chief Financial Officer
+44 (0) 1773 842 140
Teneo Blue Rubicon
Ben Foster
+44 (0) 20 3603 5221
Camilla Cunningham
+44 (0) 20 3757 9235
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