Alumasc to supply multi-million pound roof

Building and engineering products group Alumasc has won a 10 million pound contract to supply roofing to a large aluminium smelter in Canada.

The firm said the majority of the revenue and profit from the new contract was expected to come in its financial years ending 30 June 2013 and 30 June 2014.

"It is very pleasing to report a further aluminium smelter related project win which was the result of Alumasc Armaseam's technical solution and which followed a rigorous evaluation over several months," said Chief Executive Paul Hooper.

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The win is good news for the firm but won't help its 2012 figures.

In February the company said that margin pressures had overshadowed revenue growth in the half year to December 31st and that full year results would 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.

Earnings per share more than halved from 3.6p to 1.4p. The interim dividend was reduced from 3.25p to 1p per share.

Alumasc's shares rose 3% in early trading on Monday following the news of the contract win.