Materials supplier gives an update on the state of the market
Building and engineering products company Alumasc has said that trading had been stable compared with the final quarter of the previous financial year. In an interim management statement for the year ending 30 June 2010, it said group revenues were well below the first quarter of the previous year.
The firm said trading since the beginning of July showed a further reduction in demand for new-build commercial projects, mitigated by Alumasc's sustainable building product activities, which continued to perform relatively well.
It added that demand for public sector work was stable and there was a modest upturn in the new house building sector.
The group's cash performance has been positive, with net debt at 30 September 2009 of £9m, £1.3m lower than at 30 June. This represents gearing of about 30%.