Eurocell has posted half-year sales almost 25% up on pre-pandemic 2019, with profit up nearly 40% in the same period, with optimism of a growing market share.
Using the two-year comparison to bypass the distortions of 2020 and Covid restrictions, the company reported revenues of £168.1m in H1, 23% above 2019, including profiles up 19% with good contribution from trade and new-build fabricators.
Profits grew to £14.2m, 37% up on £10.4m in 2019.
Chief executive Mark Kelly said: “We entered 2021 well placed to take advantage of the continued recovery in our markets and we have delivered strong financial results for H1.
“A very good sales performance has been underpinned by the success of our commercial strategies and high levels of demand in the RMI(3) market. We believe we are also continuing to take market share.
“Although high demand has put sector supply chains under pressure, to date we have secured most of the raw materials we require, and we are mitigating cost inflation with selling price increases, a surcharge and through our market-leading recycling plants. As a result, we are very pleased to report strong profit growth for the first half and to confirm a return to dividend payments.
“Trading performance in July and August has continued to be robust. With the industry close to capacity and lead times growing, we are becoming more confident that these market conditions will continue for the foreseeable future. Reflecting these factors, and notwithstanding very tight supply chains, labour and transport availability, the Board is now again raising its expectations for the full year.”
