Thursday, December 3, 2020

Profit before tax to surpass 2020 expectations at Eurocell

Profit before tax is anticipated to be ahead of expectations for 2020 at Eurocell plc, the Derbyshire-based manufacturer, recycler and distributor of window, door and roofline PVC products, as detailed in an update for the 10 months to 31 October 2020.

The news comes as it was announced that sales to 31 October decreased 12% on a reported basis, but grew 5% on a like-for-like basis.

The company noted that the repair, maintenance and improvement (RMI) market has been stronger than anticipated when announcing Half Year results in September, with housing market activity also now increasing, supported by high levels of mortgage approvals.

In a statement to the London Stock Exchange Eurocell said: “We have so far seen no discernible impact from the recent tightening of COVID-related restrictions, including the second national lockdown imposed from 5 November.

“Our manufacturing plants, branch network, distribution and recycling operations all remain open, in line with UK Government guidance. Subject to no significant further adverse impacts from COVID, we now expect underlying profit before tax for the full year to be ahead of current expectations.”

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