Airea's new flooring ranges offer traction for second half

Airea reported growth in second-half revenue and operating profit following continued order book growth and increased sales both in the UK and Internationally.

Due to the strong second half, the manufacturer, marketer and distributor of floor coverings reported that the year ended 31 December had fallen in line with management expectations.

The AIM traded company's performance was further assisted by the launches of new product ranges that it said continue to gain traction in the market, with further launches planned for 2019 expected to fuel further revenue growth.

The company added that an October High Court judgement which concluded that schemes should equalise pension benefits for men and women as regards guaranteed minimum pension benefits is likely to impact the company's pension scheme liabilities by approximately £0.3m.

However, a statement from the company said this would "not have a significant impact" on the funding strategy for pension schemes and would have no cash impact.

Airea's shares were up 4.07% at 62.44p at 1126 GMT.