StockMarketWire.com - Construction components supplier Tyman downgraded its annual earnings guidance, citing global supply-chain challenges.

Adjusted profit for the year through December was now expected to be 'marginally below' consensus, the company said in a trading update.

Revenue in the 10 months through October had risen 12% year-on-year to £529 million, or by 19% on a like-for-like basis.

'The positive trading momentum has continued into the second half of 2021, with the international division performing particularly strongly, largely mitigating the widely publicised supply chain constraints that have impacted North America and the UK during the period,' Tyman said.

'As indicated at the time of the interim results in July, strong market demand and market share gains have continued despite global supply chain challenges, notably material and labour availability, as well as global freight disruption.'

Chief executive Jo Hallas said the company as mitigating those challenges through close collaboration with supply-chain partners and operational activities.

'The favourable long-term market fundamentals and resilience of the group's business model leave us well-placed to navigate this unprecedented environment and deliver further growth,' he said.


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