Jon Bednall, CEO of Epwin Group :LONEPWN, commented on today’s results: “2016 was another year of progress for Epwin. We grew profits and had strong cash generation in challenging market conditions. This reflects our strategy to broaden our product portfolio organically and through acquisition, enhance cross-selling and improve our operations.”
Epwin, the vertically integrated manufacturer of low maintenance building products, supplying the Repair, Maintenance and Improvement (“RMI”), new build and social housing sectors, announces its trading update in respect of the year ended 31 December 2016, and notice of its full year results.
Trading update
The Group’s profits for the year ended will be in line with expectations, with continued strong cash generation in challenging market conditions. The performance of recent acquisitions continues to be generation in challenging market conditions. The performance of recent acquisitions continues to be encouraging.
The Group continues to make progress with its strategy, focussed on operational improvement, broadening the product portfolio, selective acquisitions and cross selling. The roll out of the award winning Optima window system has been completed and has been very well received by the market.
The Board remains confident in the long term market drivers for Epwin’s products, and believes that there continues to be pent up demand in the RMI sector as well as wider opportunities in the long term for the Group and its customers.
The long term impact of the outcome of the EU Referendum on consumer confidence and demand remains unclear, but input costs have increased as a result of the weakening of sterling since June 2016 and the Group is continuing its efforts to mitigate this.
Notice of results
The Group will announce its full year results for the year ended 31 December 2016 on 6 April 2017. An analyst presentation will be held at 9.30am on that day at the offices of MHP Communications, 6 Agar Street, London WC2N 4HN.
