Epwin performance ‘resilient’
13th February 2018
Epwin Group Plc performance has been “resilient, despite the previously reported issues affecting the Group's two largest customers and the input cost inflation experienced during the year,” the group announced this week in a year-end trading update adding that it expects its operating profit for 2017 to be in line with market expectations.
The statement continues: “The Group has continued to deliver on its strategy, particularly noting the strong sales of the Profile 22 Optima window profile system and WPC decking products.
“Our programme of operational improvement continues, having completed the consolidation of our glass production facilities onto one site and the phased consolidation of two further production units onto one site is progressing well. In addition, we continue to develop our logistics capabilities at the Scunthorpe site with new warehousing.
“We expect market conditions to remain challenging in the near term and anticipate that the RMI market will continue to be subdued in 2018. Despite this, we expect to make further progress with our strategy focussed on operational improvement, broadening the product portfolio, selective acquisitions, cross selling and market share growth in key sectors to build a platform for future growth.
CEO Jon Bednall said: "Epwin delivered a resilient performance in 2017, despite the issues affecting the Group's two largest customers and the significant increases in input costs. In the second half of the year we progressed with our strategy of broadening our product portfolio and channels to market, as well as continuing our programme of operational efficiency improvements through further site consolidation. We remain confident in the long term drivers in the RMI market and continuing our record of strong cash generation."
The Group will announce its full year results for the year ended 31 December 2017 on 11 April.