Good morning, it’s Paul here with the SCVR for Wednesday.

Timing - today's report is now finished.

Agenda - here are some updates from yesterday, which I prepared last night:

Alumasc (LON:ALU) - Trading update - big share price rise yesterday

Pebble (LON:PEBB) - My first ever look at this company. Trading update FY 12/2020

Audioboom (LON:BOOM) - Trading update FY 12/2020 - not a basket case any more?

Eleco (LON:ELCO) - Trading update FY 12/2020 - resilient performance

Watkin Jones (LON:WJG) - investor presentation is worth a look

On to today's news:

Wincanton (LON:WIN) - probably the best trading update today, materially ahead

Mission (LON:TMG) - Trading update - good recovery in H2, more than recouped H1 losses


Alumasc (LON:ALU)

Share price: 137p (up 21% yesterday) - mkt cap £49.6m

One of yesterday’s biggest risers, so we should have a look at it.

I reviewed its FY 06/2020 results here, but the cash-hungry pension fund deficit put me off. Pity, as it’s risen 63% since then.

Trading Statement

Alumasc, the premium building products, systems, and solutions Group, today provides a trading update for the six months ended 31 December 2020, ahead of publication of its half-year results on Thursday 4 February 2021.

This looks impressive, especially the large increase in profitability -

Further to our AGM Trading Update on 22 October 2020, which reported a strong performance in the first quarter, we are very pleased to report that conditions in our markets have remained positive and that the Group's trading performance has continued through to the end of the first half of the financial year, with a record profit for the period being achieved. On an unaudited basis, for the first six months of the year:

· Revenue increased 11% versus the prior year to £45.6m

· Underlying PBT increased significantly, from £2.3m to £6.0m

· Cash generation has also been strong in the first half, with net bank debt reducing from £4.3m at 30 June 2020 to £0.2m at 31 December 2020.

Other points -

  • Helped by catch-up demand following lockdown 1, and Govt support measures
  • Won market share & “encouraging” export sales
  • Margins helped by prior year cost savings of £2.4m
  • Levolux turnaround going well
  • Entered…

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