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Eurocell PLC on Thursday said it was on track with the delivery of the early stages of its new strategy amid ongoing ‘challenging’ trading conditions. Eurocell is an Alfreton, England-based manufacturer, recycler and distributor of window, door and roofline PVC products. In a trading update ahead of Thursday’s annual general meeting, Eurocell said trading conditions in its key markets have ‘remained challenging, with continuing macroeconomic uncertainty impacting activity levels in both the repair, maintenance and improvement and new build markets.’ However, it continues to focus on closely managing costs and cash flow and has seen some further reduction in raw material cost pricing in 2024. As a result, expectations for underlying pretax profit for the year remain unchanged, it said. Eurocell said sales for the four months ending April were down 6% on a year prior, with volume down 4%. Sales in the Profiles division fell 10% and in the Building Plastics division by a less severe 4%. Eurocell said it had decided to expand its £5 million share buyback programme by a further £5 million as part of a focus on enhancing shareholder returns. Shares in Eurocell rose 0.8% to 132.00 pence on Thursday. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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