Source - SMW
Acal expects full-year earnings to be slightly ahead of its previous forecasts.

The group said trading in the second quarter was strong, generating good levels of organic growth, continuing the momentum reported in previous quarters. 

It said this growth was driven by new project wins, mostly in its target markets, and product cross-selling, supported by favourable market conditions, particularly in Continental Europe.

First half revenue for the group increased by 21% (£33m) to £190m compared with last year (H1 2016/17: £157m), an increase of 15% (£24m) at constant exchange rates, comprising organic revenue growth of 9% (£16m) and 6% (£8m) from acquisitions.

An update continued: 'Organic sales in our Design & Manufacturing division, which accounted for 57% of total revenue (FY 2016/17: 52%), grew by 11% and by 7% in our Custom Distribution division. 

'Group orders increased by 15% CER, of which 10% was organic growth lifting the Group's forward order book to another record period end high.

'Gross margin stabilised during the first half and as expected was in line with the final quarter of last year.'