Alumasc aiming to build on solid performance

MIDLANDS-based building and engineering products group Alumasc, which has large operations in Shropshire and Staffordshire, says it is continuing to trade well.

In a trading update for the financial year ended June 30, the firm revealed its building products division grew its revenues year on year by almost 20%.

Alumasc said execution and delivery on construction projects has been strong, including those that were either completed or substantially completed in the weeks leading up to the financial year end.

Sales volumes recovered in the engineering products division in the fourth quarter, but not to the levels seen in the early part of the financial year. Therefore, Alumasc Precision Components “has not yet recovered to a break even run rate”.

Dyson Diecastings, however, continues to trade strongly.

Both businesses have recently won new contracts that are expected to benefit the 2013/14 financial year.
 
Underlying group profit before tax for the year will be ahead of management’s previous expectations.
 
The group’s cash flow performance has also continued to be ahead of expectations, with net debt at the year end expected to be approximately £8m.
 
Alumasc said its order books remain strong at £44m.