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Alumasc revenues stable amid 'challenging' market
24th Oct 2019 16:12
(Sharecast News) - Alumasc said on Thursday that first quarter group revenues from its continuing operations were similar to those of a year ago.
The AIM-traded firm, which was holding its annual general meeting, told shareholders that was reflective of the resilience of its businesses, against the backdrop of a "challenging" UK construction market.
Chairman John McCall said the group remained on track to deliver the £2m of previously-committed cost savings in the current financial year.
"So far, this has driven an improvement in group operating margins by over one percentage point compared to a year ago," McCall said.
"Whilst still in its early stages, the recovery plan at Levolux is progressing broadly in line with expectations.
"The board remains confident that with sustainable building systems and solutions becoming more important to the industry and to society as a whole, the group's strong strategic and market leading positions in managing water and energy in the built environment will underpin value creation over the medium to longer term."
The AIM-traded firm, which was holding its annual general meeting, told shareholders that was reflective of the resilience of its businesses, against the backdrop of a "challenging" UK construction market.
Chairman John McCall said the group remained on track to deliver the £2m of previously-committed cost savings in the current financial year.
"So far, this has driven an improvement in group operating margins by over one percentage point compared to a year ago," McCall said.
"Whilst still in its early stages, the recovery plan at Levolux is progressing broadly in line with expectations.
"The board remains confident that with sustainable building systems and solutions becoming more important to the industry and to society as a whole, the group's strong strategic and market leading positions in managing water and energy in the built environment will underpin value creation over the medium to longer term."