Alumasc secures several new Asian contracts

Sustainable building products group Alumasc has been awarded a number of new contracts in Asia, with a total sales value worth more than £7.3m.

Alumasc said on Wednesday that Gatic, part of its water management division, had secured contracts to supply its access and drainage products across a number of projects for airports and seaports in Hong Kong, India, the Philippines, and Singapore.

The AIM-listed group highlighted that the contracts were expected to be delivered over the next 12-24 months and further strengthen order book visibility.

Chief executive Paul Hooper said: "These are excellent wins for Alumasc and demonstrate the global reputation of our Gatic products, as well as the significant ongoing opportunity for the group to supply large international infrastructure projects.

"In 2022, overseas exports represented 15% of total group sales, and going forward, we see further opportunities to increase our market share in selected markets such as Asia."

As of 0915 GMT, Alumasc shares were up 3.78% at 154.12p.

Reporting by Iain Gilbert at Sharecast.com