Epwin experiences better than expected trading conditions in H2

16th Dec 2020 10:55

(Sharecast News) - Low maintenance building products manufacturer Epwin said on Wednesday that it had experienced better than expected trading conditions since reporting its half-year results back in September.
Epwin stated that demand from the repair, maintenance and improvement market, which represents around 70% of group revenues, had been "particularly strong" during the fourth quarter of the year, while demand from the new build and social housing sectors has also been increasing.

Group revenues between 1 July and 30 November were 5% higher year-on-year, with window systems and cellular extrusion sales 9% ahead of 2019, helping year-to-date revenues recover and now be 15% lower year-on-year.

As a result, Epwin expects full-year revenues and adjusted pre-tax profits to be ahead of current market expectations.

Chief executive Jon Bednall said: "Against the backdrop of the disruption caused by the pandemic, our performance this year and the strong underlying demand from the markets we serve have been encouraging as we have exceeded our revised expectations.

"We look forward to a more positive 2021, with the medium and long-term drivers of our markets remaining strong."

As of 1050 GMT, Epwin shares were up 4.35% at 92.98p.