Business
AGM Trading Update and Board Update
AGM Trading Update and Board Update.
About this update from Eurocell Plc
[{"type":"text","content":"\n \n \n \n 12 May 2022\n \n \n \n \n EUROCELL PLC\n \n \n \n \n (\"Eurocell\" or the \"Group\")\n \n \n \n \n \n \n \n AGM Trading Update and Board Update - Trading in Line with Expectations\n \n \n \n \n \n \n Eurocell plc, the market leading, vertically integrated UK manufacturer, recycler and distributor of innovative window, door and roofline PVC products, provides the following update for the first four months of 2022, in advance of the Annual General Meeting later today.\n \n \n \n \n \n \n Trading Performance\n \n \n \n We have made a positive start to the year, supported by good underlying demand in our markets. Sales growth rates for the four months to 30 April 2022 were as follows:\n \n \n \n \n \n \n \n \n \n \n Sales growth\n \n \n \n \n \n \n vs 2021\n \n \n \n \n \n \n vs 2019\n \n \n \n \n \n \n \n \n Total Group\n \n \n \n \n \n \n 13%\n \n \n \n \n \n \n 39%\n \n \n \n \n \n \n \n Profiles Division\n \n \n \n \n 18%\n \n \n \n \n 38%\n \n \n \n \n \n \n Building Plastics Division\n \n \n \n \n 10%\n \n \n \n \n 39%\n \n \n \n \n \n \n \n \n \n The repair, maintenance and improvement (RMI) market remains robust and we have kept pace with an exceptionally strong comparative period. Current indications are that RMI demand includes a greater emphasis on project specific work, rather than the higher levels of maintenance activity experienced last year. We believe we are continuing to take market share and have made substantial progress compared to the equivalent period of 2019.\n \n \n \n \n \n Sales growth to 30 April compared to 2021 includes: \n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n Profiles - a good start in new build, where competitor fabricator weakness has supported our sales. Mortgages remain affordable and wage growth assists increased mortgage capacity. Vista doors has also reported another very strong performance\n \n \n \n \n \n \n \n \n \n •\n \n \n \n \n Building Plastics - good demand for high value project work (such as our roof lanterns, conservatory roofs and bi-fold doors) and our outdoor living range (fencing, decking and garden rooms), where sales are being supported by elevated levels of consumer savings and changing lifestyle patterns, such as hybrid working\n \n \n \n \n \n \n \n \n \n We continue to take effective action to offs...