Alumasc posts second half results boost despite uncertainty

Building products firm Alumasc has posted a pre-tax profit rise of 300% for the second half of 2020, on turnover that rose to £45.6m from £41.1m as underlying profit margins increased to 13.6% from 6.1%.

The company said: “ The 11% uplift in our revenues to £45.6 million reflects an increase in our market share won particularly in our Roofing business and Water Management Division.

“Following a refocus of the customer profile our Housebuilding Products Division’s revenue grew slightly, bolstered by the success of several new products across the last twelve months.”

Chief executive Paul Hooper said: “Reflecting the Board’s confidence in the year ahead, the underlying strength of the business and the strategic growth opportunities available to us, we have today proposed an interim dividend of 3.25 pence per share.

“Our long-term strategy remains to continue to deliver profitable growth through our strategic positions in sustainable building products, while growing our export market.”