Positive first post-IPO results for Epwin Group

WINDOWS manufacturer Epwin Group has posted a positive set of annual results – its first since floating on AIM last year.

The firm, which has large facilities in Tamworth and Telford, saw underlying operating profit – before pre-IPO shareholder management charges – up 25.8% to £19.5m (2013: £15.5m) in the year to December 31.

Profit before tax increased from £7.8m in 2013 to £18.6m in 2014 while revenue from continuing operations increased by 1.6% to £259.5m (2013: £255.3 m).

The firm reported positive net cash of £1.1m, up from a net debt position of £18.7mat 31 December 2013.

Jon Bednall, chief executive Officer, said: “We are pleased to present full year results which demonstrate that we are making progress in delivering our programme of operational improvements to enhance earnings and leverage the scale of the business.” 
 
“There has been significant under-investment by landlords and property owners in the UK’s housing stock and we believe that the group will benefit from the UK economic upturn in the RMI market, as well as the increased focus on energy efficient buildings.

“We are well placed to continue to grow our operating profits in line with the expectations at IPO and to capitalise on future market growth opportunities.” 

Epwin, which employs in excess of 2,300 staff, works closely with the construction on housebuilding projects.

 

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