Revenues rose 26% to £88.5m despite organic constant currency growth of just 3.1%
Companies: Volution Group plc
AIM-listed Volution Group enjoyed a decent 26% revenue growth and 14% adj EPS growth during the 6 months to 31 January, it announced on Monday. The firm, which operates in the glamorous ventilation products market, was aided by a sizeable currency tailwind after Brexit.
Revenues for the half-year rose 26%, on a reported basis, reaching £88.5m, which resulted in adj operating profit of £17m, PBT of £16.5m, and adj EPS of £6.54m. As a result, the Board has raised the interim dividend by 12.5%.
Liberum said the results were encouraging, with EPS up 7% despite mixed markets:
"The beat came from strength in some segments and good acquisition contributions."
On an organic basis, revenues grew by a more modest 10% (3.1% at constant currency), driven by strong results in the Nordics, Central Europe, and the UK.
CEO Ronnie George said the firm had delivered another strong set of results with "excellent" cash generation continuing to support the firm's growth and acquisition strategy:
"Nordic and Central Europe sectors' organic growth was very pleasing and the integration of our recent acquisition of Breathing Buildings is proceeding well.
We continue to focus on developing our wide product portfolio across our increasing market reach; including our application software-controlled fan now being sold successfully in the Nordics, UK and Central Europe, and our "Sentinel Kinetic Advance" heat recovery unit is selling in both the UK and Central Europe."
Shares in Volution increased 1.37% on Monday, and are up 10% in the past twelve months.
