REG - Airea PLC - AGM Statement

AireaAnnouncement

07/05/2025 12:00

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RNS Number : 6921H  Airea PLC  07 May 2025

 

7 May 2025

AIREA plc

 

("AIREA", the "Group" or the "Company")

 

AGM Statement

 

AIREA plc (AIM: AIEA), the UK design-led specialist flooring company,
supplying both the UK and international markets, will be holding its Annual
General Meeting ("AGM") today at 2.00 p.m. at Victoria Mills, The Green,
Ossett, WF5 0AN.

 

Martin Toogood, Non-Executive Chairman, will provide the following update at
today's meeting:

"It is my pleasure to welcome you to the seventy-first AGM of AIREA plc. As
Non-Executive Chairman, I am joined by Médéric Payne, Chief Executive
Officer, Conleth Campbell, Chief Financial Officer and Company Secretary and
Tanya Ashton, Non-Executive Director.

 

"Médéric continues to lead the Executive team with his extensive leadership,
commercial, supply chain and marketing expertise and is supported by Conleth,
who has more than 25 years of experience in public company environments where
he has held senior finance positions, including experience in M&A, capital
markets and investor relations.

 

"Tanya continues to provide her expertise on the subject of sustainability,
which remains core to the Group's strategy with a focus on advancing the
circular economy.

 

 "I am pleased to report a year of progress in 2024, against a backdrop of
economic and geopolitical challenges. Although there was a strong start to the
year, the Group experienced an unforeseen slowdown in the second quarter.
Strong sales growth of 6.0% in the second half resulted in a full year revenue
of £21.2m, an increase of 0.6%, with an underlying operating profit of
£1.6m. The Group is proposing a dividend of 0.6 pence per share, an increase
of 9.1% and aligned with its progressive dividend policy.

 

"Following the latest triennial valuation of the defined benefit pension
scheme, the Group and the scheme's trustees agreed on a reasonable and
affordable recovery plan to address the scheme's deficit. This was submitted
to The Pensions Regulator in September 2024.

 

"The Group took the decision to divest its investment property, which has a
current carrying value of £4.1m. The property is currently being marketed for
sale.

 

"The opening of the Group's new showroom in Dubai in January 2025 is another
example of its investment for future growth. This will act as a strategic hub
to drive sales across the GCC, MEA regions and India.

 

"The investment in our manufacturing facility is nearing completion, and along
with the ongoing transformation of the business, the Group is well placed for
profitable future growth.

 

"I am also pleased to report that the Group has made an encouraging start to
the year with revenue for the four months to 30 April 2025 ahead of the prior
year by 2.6%. Demand was again strong for our carbon-neutral and low-carbon
ranges, supported by the successful launches of rocklines® and threads® in
the first quarter.

 

"The Board is confident of making further progress in 2025, and we look
forward to updating shareholders in due course."

 

- Ends -

 

For further information please contact:

 

 AIREA plc                                   Tel: +44 (0) 192 426 6561

 Médéric Payne, Chief Executive Officer

 Conleth Campbell, Chief Financial Officer
 Singer Capital Markets                      Tel: +44 (0) 20 7496 3000

(Nominated Adviser and Sole Broker)

 Peter Steel / Sam Butcher
 Northstar Communications                    Tel: +44 (0) 113 730 3896

(Financial media and PR)

 Sarah Hollins

Notes to Editors

 

AIREA plc is a UK design-led specialist flooring company, supplying both UK
and international markets.  Since 2007, the Group has been focused solely on
floor coverings and enjoys a strong and growing brand position within the
commercial flooring market.

 

The Group's core brand Burmatex® is one of the UK's leading designers and
manufacturers of commercial carpet tiles and planks. Burmatex® focuses on the
design and creation of sustainable innovative flooring solutions to meet the
needs of architects, specifiers and contractors with a continuously developing
range to suit the education, leisure, commercial, hospitality and public
sectors. The brand was acquired by AIREA in 1984.

 

The Group was admitted to trading on AIM of the London Stock Exchange on 12
December 2007.

 

For further information, please visit: https://aireaplc.com/
(https://aireaplc.com/) .

 

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