18 May 2018 07:00
18 May 2018
EUROCELL PLC
(Symbol: ECEL)
AGM Trading Update
Eurocell provides an update on its trading performance for the first four months of 2018, in advance of our Annual General Meeting being held at 12 noon today in Alfreton.
Trading and Operational Performance
We have made a positive start to 2018 and current trading is consistent with our expectations for the full year.
We continue to deliver good sales performance. In the Profiles division, growth reflects new account wins from 2017 and a strong performance in new build. In Building Plastics, growth has been driven by the branches opened last year.
Although we expect sales growth rates to be similar throughout the year, as anticipated there will be a greater phasing of profit to the second half.
We continue to make good progress with our key strategic initiatives, which include:
· Branch network - implementing initiatives to shorten time to break-even and maturity, and ensure a consistent offering across the network. On track to open up to 15 new branches in 2018, with 4 new sites so far this year
· Recycling - use of recycled material increasing as planned
· Market share - new customer prospect pipeline remains strong
· Acquisitions - continuing to explore potential bolt-on acquisitions
Our focus for 2018 remains on growing market share, optimising our existing branch network and expanding further our recycling capability. We are in a strong financial position and, notwithstanding the impact of difficult weather conditions in the first four months, look forward to delivering another year of good progress, in line with expectations.
Notice of Results
We will announce our half year results for the six months ending 30 June 2018 on 2 August 2018.
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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
END
Eurocell (ECEL)