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Volution on track to achieve margin target; acquires Nordiska Klimatfabriken for £3.5m
StockMarketWire.com
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Indoor air quality solutions group Volution said it was on track to achieve its first-half operating margin target of 20% following 'strong' trading performance.
The company signed an agreement to acquire Nordiska Klimatfabriken, a low carbon ventilation equipment market, in Sweden for SEK 40 million, or about £3.5 million.
'The Klimatfabriken business complements our existing market-leading residential refurbishment ventilation position in the Nordics, and integration into our existing infrastructure in the Nordics will be complete by the end of this financial year,' the company said.
The company also provided a trading update, saying it was 'pleased with the strong trading performance of the Group and expects revenue for the half-year to 31st January 2021 to be around 8.5% ahead of the comparative period, on a constant currency basis.'
At 8:47am: (LON:FAN) Volution Group Plc share price was 0p at 223p
Story provided by StockMarketWire.com
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