Business
COVID-19 Trading Update
COVID-19 Trading Update.
About this update from Volution Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 5002I\n Volution Group plc\n 02 April 2020\n \n \n \n \n \n \n \n Embargoed to 07:00\n \n \n Thursday 2 April 2020\n \n \n \n \n \n \n \n \n Volution Group plc\n \n \n \n \n COVID-19 Trading Update\n \n \n Volution Group plc (\"Volution\" or \"the Group\" or \"the Company\", LSE: FAN), a leading supplier of ventilation products to the residential and commercial construction markets in the UK, Continental Europe and Australasia, today provides an update in respect of COVID-19.\n Trading Update\n Since our last update on Wednesday 25th March the restrictions and lockdowns in the UK, Belgium and latterly Australia and New Zealand have resulted in a marked reduction in order intake and revenue across our businesses in these countries. The impact in the Nordics and Germany to date has been less pronounced although we have started to see some reduction in activity in these markets. We therefore anticipate demand across our businesses to remain considerably below normal levels of trading, however we expect to maintain a baseline of orders and revenue throughout the crisis due to our geographic and product diversity.\n Our ventilation product ranges are supplied to a wide range of applications in both residential and commercial buildings, and in the UK, for example, ventilation has been classified as an essential product. Maintaining excellent indoor air quality is very important and we are proud to be supporting some of the important projects that are taking place as the UK responds to the pandemic. Earlier this week we delivered a large batch of air movement ventilation axial fans for use in the newly constructed Nightingale Hospital in London. A number of other projects are underway to reopen mothballed hospital wards and our sales, production and logistic teams are supporting these initiatives to ensure that we can service these requirements in full.\n Our People\n The safety, wellbeing and security of our employees is paramount to Volution and especially at the current time. As the crisis evolved we acted early on to ensure that in the vast majority of our geographies, any employee who was able to move to remote home working was supported to do so. Our production sites are still operating, strictly adhering to the government guidelines on social distancing and with enh...