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Volution Group PLC on Thursday lifted its interim dividend as profit and revenue increased. Shares in Volution were up 9.3% at 388.00 pence each on Thursday morning in London. Volution is a Crawley-based manufacturer of energy-efficient indoor air quality products. For the six months ended on January 31, revenue rose 8.5% to £162.3 million from £149.6 million a year before. Pretax profit rose by 5.6% to £22.6 million from £21.4 million, and adjusted pretax profit increased by 6.0% to £31.8 million from £30.0 million a year prior. Earnings per share increased by 4.9% to 8.6p from 8.2p. Chief Executive Officer Ronnie George said: ‘We delivered a strong first half performance across our three regions, driven in particular by strong UK residential RMI demand. We have successfully managed inflationary headwinds and supply chain challenges through pricing discipline and inventory optimisation and in doing so maintained our operating margin at 21%.’ Volution declared an interim dividend of 2.5p pence per share, up 8.7% from 2.30p a year prior. Looking ahead, the company said residential refurbishment demand remains supportive, with easing inflationary pressures and supply chain challenges. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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