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Trading statements

Tyman enjoys encouraging first four months of FY

13 May 2016 07:44

Tyman said it had enjoyed an encouraging first four months to the year, consistent with its expectations for 2016 as a whole.

On a reported basis, revenue for the four months to April 30 rose about 14%, compared with the corresponding period in 2015.

On a constant currency, like-for-like basis, revenue gained about 5%, the difference principally reflecting the consolidation of the first two months of Giesse's trading and the year on year strength of the US Dollar when compared against international currencies.

AmesburyTruth has seen an encouraging start to 2016 with orders and Revenue in the four months to April running ahead of 2015. ERA has traded broadly in line with 2015 in the period with modestly improved sales into the distribution sector and the integration of Response Electronics progressing to plan. Schlegel has traded ahead of 2015, mostly due to an encouraging performance from Giesse in its first two months of ownership.

CEO Louis Eperjesi said:

"North American markets remain robust with new build lead indicators improving and our key customers reporting improved prospects for repair and remodelling as we enter the construction season.

"The UK market is expected to remain relatively subdued in 2016; however we continue to target profitable share growth. European markets are slowly improving; and we are pleased with the initial progress made with the integrations of Giesse and Response Electronics into the Group."

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