StockMarketWire.com - Maintenance building products maker Epwin reported a fall in profit amid 'challenging' market conditions, but said it expected adjusted profit to meet market expectations as price hikes helped mitigate the rise in costs. For the six months to 30 June 2019, pre-tax profit slipped to £6.7m from £6.9m as revenue was flat at £140m from a year earlier.

Underlying operating profit, meanwhile, increased by 10.7% to £8.3m.

Strong demand in the first quarter was followed by weaker demand in the second, as the delay of Brexit led to an unwind of forward-purchasing, compounded by poor weather in June, the company said.

The company announced a 3% increase in the interim dividend to 1.75p per ordinary share from 1.70p a year earlier.

'The board anticipates adjusted profit before tax for the full year to be in line with market expectations,' Epwin said.


At 8:42am: [LON:EPWN] Epwin Group Plc share price was +2.9p at 78.5p



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