EUROCELL PLC (ECEL) — Interim Results

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the EUROCELL PLC half year results investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time via the and a tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today, and we'll publish those responses where it's appropriate to do so. Before we begin, we would just like to submit the following poll. And as usual, if you could give that your kind attention, I'm sure the company would be most grateful. And I would now like to hand you over to the executive management team from EUROCELL PLC. Darren, good morning, sir. Thank you, Jake, and good morning, everyone. Welcome to EUROCELL's half year results presentation. I'm Darren Waters, CEO, and sitting alongside me is Michael Scott, CFO. So in terms of headlines, I'm pleased to report that we've delivered a decent first half performance with profits up 33 at £8,000,000 despite a tough market environment. If you cash your minds back to last year, during the first half of twenty twenty three, we were impacted by the downturn in the new build market, whereas this year, we've experienced the combined effect of a weak housing market and softer demand in RMI. Even though the CPA are reporting a 6% fall in private RMI, my view is is that the overall market is down as much as 10% versus 2023. In fact, the Builders Merchant Federation yesterday released some stats for q two, which showed that on a like for like basis, sales in q two were down almost 9%. So ...