Alumasc lowers guidance after margin squeeze

Building and engineering products company Alumasc shares took a hit after the firm admitted margin pressures had overshadowed revenue growth in the half year to December 31st and that full year results will be materially below previous expectations.

Building and engineering products company Alumasc shares took a hit after the firm admitted margin pressures had overshadowed revenue growth in the half year to December 31st and that full year results will be materially below previous expectations.

Group revenue during the period rose from £49.6m to £54.1m year-on-year, but underlying profit-before-tax fell to £1m, compared to £2.2m the previous year. Reported profit before tax dropped from £1.9m to £0.7m, hit by a rise in the cost of sales to support a recent surge in demand.

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