"Strong growth" for Eurocell as revenues beat pre-pandemic figures
A UK plastics manufacturer has announced that its revenues over the past six months have been nearly 25 per cent higher than pre-pandemic levels.
Eurocell, which manufactures and provides UPVC products such as windows and doors, reported revenues of £168.1m in the first half of the year, rising by 86 per cent on the first half of 2020 and 23 per cent above 2019.
Its profits have also grown, with first half results of £14.2m, 37 per cent higher than 2019’s £10.4m.
The company said that the results were driven by its commercial strategies, as well as heightened levels of demand.
Mark Kelly, chief executive of Eurocell, commented: “We entered 2021 well placed to take advantage of the continued recovery in our markets and we have delivered strong financial results for H1.
“A very good sales performance has been underpinned by the success of our commercial strategies and high levels of demand in the RMI(3) market. We believe we are also continuing to take market share.
“Although high demand has put sector supply chains under pressure, to date we have secured most of the raw materials we require, and we are mitigating cost inflation with selling price increases, a surcharge and through our market-leading recycling plants.
“As a result, we are very pleased to report strong profit growth for the first half and to confirm a return to dividend payments.
“Trading performance in July and August has continued to be robust. With the industry close to capacity and lead times growing, we are becoming more confident that these market conditions will continue for the foreseeable future.
“Reflecting these factors, and notwithstanding very tight supply chains, labour and transport availability, the board is now again raising its expectations for the full year.”
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