Alumasc’s pre-tax profit for fiscal 2022 increased as revenue generated from water management business performance; Stocks rise

By Anthony O. Goriainoff

Shares of Alumasc Group PLC rose on Tuesday after the company said pre-tax profit for the 2022 financial year rose as revenues rose on the back of performance in the water management division, and the demand remained strong at the start of the new financial year.

Shares at 0725 GMT were up 19 pence, or 13%, at 171 pence.

The London-listed building products supplier said that for the year ended June 30, pre-tax profit was £12.0m ($13.8m), down from £9.5m for fiscal year 2021.

Revenue rose to £89.4m from £77.8m, he said. The company said the water management division’s performance benefited from its UK and export-focused strategy as well as its extensive online offering, and generated a 24% increase in its turnover, at £47.6 million.

The board recommended a final dividend of 6.65 pence per share, bringing the final dividend to 10.0 pence per share, from 9.5 pence the previous year.

“Demand remains strong at the start of the new fiscal year, which started in line with management’s expectations. Despite the uncertainty surrounding the current macroeconomic outlook, a solid platform is now in place, giving the board confidence for another solid year,” said general manager Paul Hooper. said.

Write to Anthony O. Goriainoff at [email protected]

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