Alumasc sees revenue surge in first half

Premium building products, systems and solutions provider Alumasc posted its interim results for the six months to 31 December on Tuesday, with revenue rising 17% to £50.7m.

The London-listed firm reported a 2% uptick in underlying profit before tax to £4.1m, with underlying earnings per share adding 2% to 9.1p.

Profit before tax improved 6% to £3.6m, with basic earnings per share 8% higher at 8.2p.

The board confirmed a 5.6% increase in dividends per share to 2.85p.

“Group order books currently stand at £27.6m, close to record levels,” said chief executive Paul Hooper.

“The majority of this relates to Levolux and to construction projects that are for the most part due to complete prior to the financial year end, which we expect will benefit profit and margin recognition in the second half year.

Elsewhere, Hooper said the board expected the group's positive trading momentum to continue in the remainder of the financial year.

“Therefore, the board's expectations for full year performance remain unchanged.

“Notwithstanding the ongoing economic uncertainties arising from the UK's intended exit from the European Union and the current weakness in sterling, latest industry forecasts continue to anticipate modest growth in the UK construction market over the next few years.”

Hooper said all of Alumasc's chosen specialist markets continued to benefit from one or more of the long-term strategic growth drivers of energy management, water management, bespoke solutions and ease of construction.

“This, when combined with an encouraging pipeline of enquiries and quotations including for large international projects at Levolux and Gatic in particular, gives the board confidence that Alumasc should continue to make good progress beyond the current financial year.”