AGM Trading Update
24/05/2022 07:00
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RNS Number : 5074M Epwin Group PLC 24 May 2022
24 May 2022
This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as
amended). Upon the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain.
Epwin Group Plc
AGM trading update
Epwin Group Plc (AIM: EPWN) ("Epwin" or the "Group"), the leading manufacturer
of energy efficient and low maintenance building products, 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:
"I am pleased to report a continued strong trading performance in the first
four months of the year, with revenues to 30 April 2022 15% ahead of a strong
comparative period in 2021. Demand remains robust, particularly from the key
RMI market.
"Material costs, particularly PVC resin, have continued to increase during the
year, mainly as a result of the tragic events in Ukraine. The Group's strong
relationships with its PVC resin suppliers have ensured it has been able to
secure material supply. The Group continues to work with its customers to pass
these costs on equitably through price increases and surcharges and remains
confident in its ability to manage further cost inflation.
"The Group continues to make progress in pursuing its strategic objectives,
including value enhancing acquisitions, and expects to make further market
share gains whilst managing the challenges that the current operating
environment presents. The Group retains a strong balance sheet and as at 30
April the Group had in excess of £55 million of headroom on its banking
facilities.
"The Board remains confident of achieving its expectations in 2022, whilst
mindful of the widely reported challenging macro-economic conditions.
"Looking further ahead, the strength of the medium and long-term drivers of
growth in our markets gives the Board confidence in the outlook for the Group.
The UK has an ageing and under invested housing stock and there is an
increasing focus on environmental, energy efficiency and safety concerns.
Additionally, the lockdowns of the last few years have stimulated demand for
home, garden and leisure spending, alongside the desire of consumers to create
workspace in the home.
The Board will update shareholders further in our half year trading update."
Contact information
Epwin Group Plc 0203 128 8168
Jon Bednall, Chief Executive
Chris Empson, Group Finance Director
Shore Capital (Nominated Adviser and Joint Broker) 0207 408 4090
Corporate Advisory
Daniel Bush / Iain Sexton
Corporate Broking
Fiona Conroy
Zeus Capital Limited (Joint Broker) 0203 829 5000
Dominic King / Nick Searle
MHP Communications 0203 128 8168
Reg Hoare / Charlie Barker / Pauline Guenot epwin@mhpc.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/
(http://www.epwin.co.uk/investors/)
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