Profits slump at Eurocell in ‘challenging’ year

Eurocell, the South Normanton-based manufacturer of PVC windows, doors and roofline products, has seen it profits slump – after market conditions deteriorated further in the second half of 2023.

The firm posted revenues of £364.5m – down 4% on 2022, with profit before tax taking a 14.5% hit to fall to £11.7m.

Eurocell has put the poor performance down to a decline in new build housing and a weak repair, maintenance and improvements market.

Eurocell cut around 100 jobs in the second quarter of 2023.

Darren Waters, chief executive, said: “The trends reported at our half year results in September continued for the remainder of 2023, with some further modest weakening in our key markets. Against this challenging backdrop, we are pleased to report profits for the year in line with expectations and strong cash flow generation.

“We took early and decisive action on costs in response to lower volumes and have continued to focus on efficient working capital management, driving a good cash flow performance. Whilst the near-term outlook for our markets remains challenging, these actions leave us well placed to benefit from a market recovery when it comes.”