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Interim Results

Volution interim dividend up 14.3%

18 March 2016 07:27

Volution Group - a leading supplier of ventilation products to the residential and commercial construction market - reports strong results for the six months to the end of January and increases its inteim dividend by 14.3% to 1.20p per share.

Revenue rose to GBP70.1 million - up 9.0% (13.0% at constant currency) - and adjusted pre-tax profits of GBP14,6m were up 14.9% (18.7% in constant currencies).

Chief executive Ronnie George said:"We have delivered results in line with our expectations and the level of our cash generation continues to support our ambition to also grow through acquisition. The Nordic revenue growth of 18.3% is the notable highlight of our first half and we are seeing good traction from our new acquisitions in Belgium, the Netherlands and most recently the UK.

"New product launches in the first half of the year such as the new applications software controlled fan are good examples of where the Group is able to leverage product development across a number of different geographies. This product will soon be launched in Belgium and the Netherlands, having already been successfully launched in the Nordics and UK."

Volution Group also announced that non-executive director Gavin Chittick has decided to retire from the board and will step down with immediate effect.

Chittick joined the Group in 2012 and was appointed to the Board in May 2014, just prior to IPO, as the director representing the Group's controlling shareholder, Windmill Holdings B.V.

Story provided by StockMarketWire.com

Related Company: FAN

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