Epwin Group PLC AGM Trading Update (2513A)
23 Maio 2023 - 3:00AM
UK Regulatory
TIDMEPWN
RNS Number : 2513A
Epwin Group PLC
23 May 2023
23 May 2023
This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310 (as amended). Upon the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
Epwin Group Plc
AGM trading update
Epwin Group Plc (AIM: EPWN) ("Epwin" or the "Group"), the
leading manufacturer of energy efficient and low maintenance
building products, with significant market shares , supplying the
Repair, Maintenance and Improvement ("RMI"), new build and social
housing sectors announces that the Company's Chairman, Andrew
Eastgate, will make the following statement in respect of current
trading at today's Annual General Meeting:
"The Group has continued to trade well and in line with the
Board's expectations, with revenues to date 3% ahead of a strong
2022 comparative. The Board remains confident of delivering
Underlying Operating Profit for the year in line with its
expectations.
"The inflationary pressures that have significantly impacted raw
material costs, particularly PVC resin, over the last two years
have eased, although PVC resin prices remain at elevated levels,
with labour and other inflationary cost pressures continuing to be
managed by the businesses.
" The Group's broad product range, diverse customer base,
well-invested operations, longstanding supplier relationships and
strong balance sheet provide a large measure of resilience against
short-term macroeconomic headwinds.
"Whilst cognisant of these macroeconomic headwinds and their
potential effect, the Group remains confident of delivering a year
of further strategic and operational progress as well as meeting
the Board's financial performance expectations.
"Net debt remains low; the Group has delivered a further strong
cashflow performance to date in 2023 and has in excess of GBP50m of
headroom on its banking facilities.
" The medium and long-term drivers of the Group's end markets
remain positive, with a shortage of new and affordable housing, an
ageing and poorly maintained housing stock and increasing concern
about the quality of social housing all helping to bolster future
demand . Additionally, the Group's products have inherently strong
environmental credentials which have a clear role to play in the
decarbonisation of the UK housing stock which will be required to
meet net zero ambitions.
"The Board will update shareholders further in our half year
trading update in August."
Contact information
Epwin Group Plc
Jon Bednall, Chief Executive
Chris Empson, Group Finance Director 0203 128 8168
Shore Capital (Nominated Adviser and
Joint Broker)
Corporate Advisory 0207 408 4090
Daniel Bush / Iain Sexton
Corporate Broking
Fiona Conroy
Zeus Capital Limited (Joint Broker)
Dominic King / Nick Searle 0203 829 5000
MHP Communications 0203 128 8540
Reg Hoare / Charlie Barker / Pauline epwin@mhpc.com
Guenot
About Epwin
Epwin is the leading manufacturer of energy efficient and low
maintenance building products, with significant market shares,
supplying the Repair, Maintenance and Improvement (" RMI"), new
build and social housing sectors.
The Company is incorporated, domiciled and operates principally
in the United Kingdom.
Information for investors can be accessed
www.epwin.co.uk/investors/
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END
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