Epwin Group profits to meet market expectations, RMI market sluggishness to continue
Source - SMW
Epwin Group Plc said it expects operating profits and net debt for the year ended 31 December 2017 to be in line with market expectations.
The outlook on operating profits for the year comes amid resilient performance despite the input cost inflation experienced during the year.
The company said it continued to deliver on its strategy, noting the strong sales of the Profile 22 Optima window profile system and WPC decking products.
Epwin Group warned, however, that it expects market conditions to remain challenging in the near term and anticipates that the RMI market will continue to be subdued in 2018.
Jon Bednall, CEO of Epwin, said: 'Epwin delivered a resilient performance in 2017, despite the issues affecting the Group's two largest customers and the significant increases in input costs.'
'In the second half of the year we progressed with our strategy of broadening our product portfolio and channels to market, as well as continuing our programme of operational efficiency improvements through further site consolidation.'
'We remain confident in the long term drivers in the RMI market and continuing our record of strong cash generation.'
At 9:17am: (LON:EPWN) Epwin Group Plc share price was -0.6p at 77.2p