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Mon October 14 2019

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Alumasc warns on profit

14 Jun Building materials manufacturer Alumasc is losing more money than it thought in its Levolux division.

The San Antonio Center in California is clad with a Levolux screen
The San Antonio Center in California is clad with a Levolux screen

Levolux, Alumasc’s architectural screening, solar shading and balconies business, will report a higher operating loss in the second half of the year than previously anticipated, the company said in a trading update today.

Levolux represents approximately 20% of group revenues. As a consequence of the weaker second half performance at Levolux, the board now expects group underlying profit before tax from continuing operations at the end of the year to be around 10-15% below its previous expectations.

The larger divisions of Roofing & Water Management and Housebuilding & Ancillaries, together representing approximately 80% of group revenues, are both continuing to grow well ahead of the UK construction market, the board said, “and are expected to deliver very encouraging overall year-on-year revenue growth”.

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