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Epwin upgrades profit outlook as performance tops its expectations
StockMarketWire.com
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Maintenance building products company Epwin upgraded its outlook on profit following better-than-expected performance since reporting half-year results on 10 September.
Revenue and adjusted pre-tax profit were anticipated to be ahead of current market expectations, the company said.
Demand from the RMI market, which represented around 70% of group revenues, had been 'particularly strong during the fourth quarter of the year, while demand from the new build and social housing sectors has also been increasing,' it added.
Net debt at 31 December 2020 was also expected to be lower than current market expectations.
Looking ahead, the company said the benefits of improved operating efficiencies and the new warehousing facility in Telford, were now expected to be seen from the second half of 2021 following supply chain disruptions.
Epwin said it anticipated recommending the payment of a final dividend for the year.
At 8:17am: (LON:EPWN) Epwin Group Plc share price was 0p at 78.4p
Story provided by StockMarketWire.com
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