Sunday, September 27, 2020

Alfreton UPVC product supplier sees revenues rise

Revenues are on the rise at Alfreton-based Eurocell, the UPVC product supplier, according to a trading update for the 11 months to 30 November 2019.

Revenue for the period is up 7% on a like-for-like basis.

The firm’s profiles division has witnessed like-for-like growth of 5% as a result of “good contributions from both existing and new accounts from across [its] fabricator base.”

The Building Plastics devision posted like-for-like growth of 8%, reflecting the “positive impact of better stock availability and [the business’s] new management team driving improvements in operating standards.”

The listed firm noted however continuing operating inefficiencies, but stated that new Chief Operating Officer Mark Hemming, who joined the business in August, “has made an excellent start” and is now leading the companies drive to improve operating efficiency. This is focused on advancing the firm’s recycling capacity at Ecoplas and reviewing options to expand warehousing capacity.

Eurocell also said – on the topic of Brexit: “As previously reported, we have invested in a stock build programme to mitigate the possible impact of raw material supply interruption due to Brexit, and to increase stock holding at our branches. We have added approximately £5 million to finished goods for key product lines under the plan, which provides a good level of protection and much improved availability.

“Taken together, these factors underpin our current expectations for full year earnings.”

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