Business
COVID-19 and Trading Update
COVID-19 and Trading Update.
About this update from Eurocell Plc
[{"type":"text","content":"\n \n \n RNS Number : 3186S\n Eurocell plc\n 08 July 2020\n \n \n \n \n 8 July 2020\n \n \n \n \n \n EUROCELL PLC\n \n \n (Symbol: ECEL)\n \n \n \n \n \n COVID-19 and Trading Update\n \n \n \n \n \n Eurocell, the market leading, vertically integrated UK manufacturer, recycler and distributor of innovative window, door and roofline PVC products, provides the following update.\n \n \n \n \n \n Re-opening the Business\n \n \n In line with official guidance from the UK Government on 23 March, we temporarily closed our manufacturing plants, branch network, distribution and recycling operations.\n \n \n \n \n \n Following updated guidance from the Government in May, which permits tradesmen to work in domestic dwellings so long as appropriate precautions are taken, we began to implement a phased re-opening of the business as follows:\n \n \n \n \n \n · \n 11 May - we started to supply our fabricator customers from existing stocks and opened six branches around the country. This allowed us to test safe working practices and begin to assess the level of customer demand \n \n \n · \n 20 May - following encouraging early results, we re-opened the full branch network\n \n \n · \n 26 May - we recommenced manufacturing operations, on a progressive basis\n \n \n \n \n \n The re-opening process has gone well. W\n e continue to maintain good health and safety performance, with safe working practices for COVID-19 implemented successfully across the business. Operational efficiencies since re-opening have been strong.\n \n \n \n \n \n By the end of June, our extrusion operation was running at June 2019 levels. Eurocell Recycle North (Ecoplas) remains our only site still to re-open, although we expect production to recommence at the end of July, in response to the increasing demand for recycled material. \n \n \n \n \n \n Trading Performance\n \n \n Group sales for the 6 months ended 30 June 2020, which includes the period from late-March to mid-May when the business was closed, were £94 million, or 31% below H1 2019.\n \n \n \n \n \n Performance in the 11 weeks to 20 March 2020 was in line with our expectations and there was no discernible impact on trading from COVID-19 up until the point of closure. This result is set against a strong comparative, with organic revenues in Q1 2019 ...