Epwin results ‘in line with expectations’
5th February 2019
Epwin Group PLC this week said results for 2018 are set to be in line with market expectations, despite difficult conditions.
The group reports ‘substantial’ progress in its programme of site consolidation and rationalisation though it will realise an exceptional loss on the transfer of its glass business (to the Panoramic Group read story). Epwin can now focus on core operations, and it is planning a new site in Telford for its window warehousing and finishing activities.
Yhe group adds that it has been working with suppliers and overseas customers to eliminate any short-term impact in the event of a hard Brexit, and it expects market conditions to remain challenging in the UK.
Chief Executive Jon Bednall said: "The group's performance during 2018 was relatively robust, given the macro-economic uncertainty, a depressed renovation, maintenance, and improvement market and the many changes we are making to the business.
"We have continued to progress with our strategy of site consolidation and broadening our product portfolio, as we continue our operational transformation, alongside advancing our product offer and market reach.
"We believe the group remains well placed in its markets with sound prospects for the future, supported by our confidence in the long term drivers in the renovation, maintenance, and improvement market."