REG - Volution Group plc - Trading Update

VolutionAnnouncement

25/05/2022 07:00

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RNS Number : 6817M  Volution Group plc  25 May 2022

 

 

 

Embargoed to 07:00

Wednesday 25 May 2022

 

 

Volution Group plc

Trading Update

 

Continued strong performance

 

Volution Group plc ("Volution" or "the Group" or "the Company", LSE: FAN), a
leading international designer and manufacturer of energy efficient indoor air
quality solutions, today announces an update on trading covering the period to
30(th) April 2022.

 

Trading Update

 

The Group has continued to perform strongly through the second half of our
financial year, with third quarter revenue growth of 17.6% at constant
currency (cc), of which organic growth was 8.8% (cc).  We have been
particularly encouraged by our UK residential revenue, where growth rates have
accelerated in the second half of the year, underpinned by a good growth in
new build residential systems and strong public RMI demand.

 

Industry-wide there has been an unprecedented period of supply chain
disruption over the last 12 to 18 months. Our strategy of holding higher
levels of inventory on key, long lead time components, coupled with extensive
work by our product engineering and supply chain teams to broaden our range of
supply options, has enabled us to manage much of this disruption, and we are
continuing to deliver very good levels of customer service in all three of our
geographic regions.

 

Appropriate, decisive and early action on price, with further modest price
increases in the second half of this financial year, has ensured that our
Group operating margins have been maintained.

 

Outlook

 

Whilst the macro-economic environment is uncertain, our order books and
activity levels, coupled with the regulatory and customer focus on improving
energy efficiency in buildings, should continue to support demand.  We
therefore expect our earnings to be towards the upper end of market
expectations for the current financial year.

 

Ronnie George, Chief Executive Officer, commented:

 

"We have continued with the strong progress shown in the first half of our
financial year through our third quarter.  Our proactive and early
initiatives to manage supply chain and to build inventory during the first
half of the year continue to underpin very good levels of customer service and
our consistently disciplined approach to managing price has ensured we
maintain our strong operating margins. I am also very proud of the ongoing
focus on our sustainability initiatives, with accelerated progress during the
third quarter in our adoption and use of recycled plastics."

 

 

 

-Ends-

 

 

For further information:

 Volution Group plc
 Ronnie George, Chief Executive Officer             +44 (0) 1293 441501
 Andy O'Brien, Chief Financial Officer              +44 (0) 1293 441536

 Tulchan Communications                             +44 (0) 207 353 4200
 James Macey White
 Martin Pengelley

 

Certain information contained in this announcement would have constituted
inside information (as defined by Article 7 of Regulation (EU) No 596/2014 as
amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019) prior to
its release as part of this announcement.

 

Volution Group plc Legal Entity Identifier: 213800EPT84EQCDHO768.

 

Note to Editors:

 

Volution Group plc (LSE: FAN) is a leading international designer and
manufacturer of energy efficient indoor air quality solutions.  Volution
Group comprises 19 key brands across three regions:

 

UK: Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing
Buildings, Torin-Sifan.

Continental Europe: Fresh, PAX, VoltAir, Kair, Air Connection, Rtek, inVENTer,
Ventilair, ClimaRad, ERI Corporation.

Australasia: Simx, Ventair, Manrose.

 

For more information, please go to: www.volutiongroupplc.com
(http://www.volutiongroupplc.com)

 

 

Cautionary statement regarding forward-looking statements

This document may contain forward-looking statements which are made in good
faith and are based on current expectations or beliefs, as well as assumptions
about future events. You can sometimes, but not always, identify these
statements by the use of a date in the future or such words as "will",
"anticipate", "estimate", "expect", "project", "intend", "plan", "should",
"may", "assume" and other similar words. By their nature, forward-looking
statements are inherently predictive and speculative and involve risk and
uncertainty because they relate to events and depend on circumstances that
will occur in the future. You should not place undue reliance on these
forward-looking statements, which are not a guarantee of future performance
and are subject to factors that could cause our actual results to differ
materially from those expressed or implied by these statements. The Company
undertakes no obligation to update any forward-looking statements contained in
this document, whether as a result of new information, future events or
otherwise.

 

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