ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

EPWN Epwin Group Plc

93.50
-2.00 (-2.09%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Epwin Group Plc LSE:EPWN London Ordinary Share GB00BNGY4Y86 ORD 0.05P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -2.09% 93.50 93.00 94.00 95.50 93.50 95.50 314,449 15:02:59
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gen Contractor-nonres Bldgs 345.4M 9.3M 0.0642 14.56 135.51M

Epwin Group PLC AGM trading update

21/05/2024 7:00am

RNS Regulatory News


RNS Number : 1631P
Epwin Group PLC
21 May 2024
 

21 May 2024

 

 

Epwin Group Plc

 

AGM trading update

 

Trading in line; confident of delivering expectations

 

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, Andrew Eastgate, 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 and the Group remains confident of delivering underlying operating profit for the year in line with recently increased market consensus expectations 1, as well as making further strategic and operational progress.

 

"The Group continues to carefully manage the balance between volume and margin, with revenues to date behind a strong prior year, as expected. This has been driven by the impact of lower PVC input prices on levied surcharges and macroeconomic headwinds which, as widely reported across the sector, continue to affect demand from housing construction and the RMI markets

 

"The Group's broad product range, diverse customer base and operations, longstanding supplier relationships and strong balance sheet continue to provide a large measure of resilience against any short-term changes in market conditions.

 

"The medium to long-term drivers of Epwin's end markets remain positive, with the UK still facing a shortage of new and affordable housing, an ageing and underinvested housing stock and increasing concern about the quality of social housing. Environmental concerns are driving legislation and initiatives that will require improvements to homes on a larger scale than simply essential maintenance, with the need to decarbonise the UK housing stock and improve the energy efficiency of homes growing in urgency given the UK's net zero commitments.

"The Board looks forward to updating shareholders further in our half year trading update in the summer.

 

"The Board continues to return capital to shareholders both by way of our ongoing dividend policy and the buyback programme, alongside on-going investment in the Group's strategy.  The initial programme to purchase 3 million ordinary shares completed on 10 April 2024 at a total cost of £2.3 million, and the programme was extended by a further 3 million ordinary shares on that date.  The Board will continue to monitor the progress of the buyback programme and, whilst there is no guarantee that the extended programme will be completed in full, it is currently envisaged that it will end no later than 30 September 2024. To date 0.8 million shares have been purchased since the extension at an aggregate cost of £0.7 million.  The continuation of the programme is subject to shareholder approval at today's AGM.

 

 

"Finally, on my retirement as Chairman after nearly ten years on the Board since the Group's IPO, I would like to take this opportunity to wish my successor, the Board and the Group continued success in the future."

 

1 Based upon Company compiled consensus, the Board believes the average analyst forecast for 2024 underlying operating profit to be £25.8 million.

 

Contact information

 

Epwin Group Plc

Jon Bednall, Chief Executive

Chris Empson, Group Finance Director

 

 

078 3462 3818

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

 

MHP

Reg Hoare / Charlie Barker / Finn Taylor

078 3462 3818

epwin@mhpgroup.com

 

 

 

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/

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTSEUFISELSELI

1 Year Epwin Chart

1 Year Epwin Chart

1 Month Epwin Chart

1 Month Epwin Chart

Your Recent History

Delayed Upgrade Clock