Products firm boosted by strong trading in water and housebuilding products
Building and engineering products firm Alumasc has posted strong half-year results for the six months to December 2015.
The listed firm posted a 12% jump in pre-tax profit to £3.2m, up from £2.9m the previous year, despite revenue dipping 4% to £43.5m, down from £45.2m.
Alumasc said the improved results were driven by growth in its water management and housebuilding products businesses, lower financing charges and the successful disposal of its loss making precision components business in June 2015.
Chief executive Paul Hooper said: “Alumasc is pleased to announce earnings growth for the fourth consecutive first half year.
“With the group expected to benefit from its normal seasonal trading bias in favour of the second half of the financial year, the Board’s previous expectations for the group’s full year performance remain unchanged.
“Against a background of further UK growth in demand for premium building products for sustainable building, and with growing order books and continuing success in developing our overseas presence, Alumasc is well positioned to make further progress beyond this financial year.”