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23 May 2025 07:00
23 May 2025
Epwin Group Plc
AGM trading update
Trading in line with the Board's expectations with revenues ahead of prior year
Epwin Group Plc (AIM: EPWN) ("Epwin" or the "Group"), the leading manufacturer of energy efficient and low maintenance building products, with significant market shares, supplying the Repair, Maintenance and Improvement ("RMI"), new build and social housing sectors announces that the Company's Chairman, Stephen Harrison, will make the following statement in respect of current trading at today's Annual General Meeting:
"Current trading remains in line with the Board's expectations, with revenues continuing to exceed prior year comparatives, as they have done each month since September 2024. Year to date revenues are 8% ahead of prior year.
"Despite ongoing economic and fiscal headwinds, the Board remains confident in delivering underlying operating profit for the year in line with its expectations, while continuing to make further strategic and operational progress.
"The Group's broad product range, diverse customer base and well invested operations, together with longstanding supplier relationships and a strong balance sheet, continue to underpin the resilience of its business model and ability to navigate market conditions effectively.
"The medium to long-term drivers of the Group's end markets remain positive. The UK continues to face a shortage of new and affordable homes, with the Government committed to increasing housing supply. At the same time, UK housing stock is ageing, poorly maintained and underinvested, alongside growing concern about the quality of social housing and private rental properties.
"Net zero is driving the need to decarbonise the UK housing stock and improve the energy efficiency of homes, with the Group well-positioned to support actions being undertaken to address these issues through its product offering.
"Epwin continues to implement its share buyback programme, which has returned £9.3 million to shareholders since November 2023, alongside distributions made under its ongoing dividend policy. The current buyback programme has 0.5 million shares remaining and it is envisaged that, subject to shareholder approval at today's AGM, the current programme will continue until such time as the maximum 5 million shares are repurchased. The Group's strong cash generation and robust financial position has enabled it to continue growing shareholder returns, whilst continuing to invest in the business and undertaking acquisitions.
"The Board looks forward to updating shareholders further in our half year trading update in the summer."
Contact information
Epwin Group Plc Jon Bednall, Chief Executive Chris Empson, Group Finance Director
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07885 447944 |
Shore Capital (Nominated Adviser and Joint Broker) Corporate Advisory Daniel Bush / Harry Davies-Ball
Corporate Broking Fiona Conroy
Zeus Capital Limited (Joint Broker) Dominic King / Nick Searle
| 0207 408 4090
0203 829 5000
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MHP Reg Hoare / Matthew Taylor / Finn Taylor | 07885 447944 epwin@mhpgroup.com
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About Epwin
Epwin is the leading manufacturer of energy efficient and low maintenance building products, with significant market shares, supplying the Repair, Maintenance and Improvement ("RMI"), new build and social housing sectors.
The Company is incorporated, domiciled and operates principally in the United Kingdom.
Information for investors can be accessed www.epwin.co.uk/investors/
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