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Alumasc Group downgrades revenue, profit guidance

By BFN News | 02:44 PM | Wednesday 14 March, 2018


Building products supplier Alumasc Group downgraded its annual earnings and revenue guidance after experiencing a slow third quarter. Revenue for the year through June was now expected to be 4-5% below previous expectations, with a consequential reduction in previously-expected underlying pre-tax profit of around 15%. Reasons for the slowdown included delays in contractor customers committing to new work due to recent margin pressure, exacerbated by the collapse of Carillion, the company said. Severe winter weather over the last few weeks also dampened demand, it added. At 2:44pm: (LON:ALU) Alumasc Group PLC share price was -31.5p at 137p Story provided by StockMarketWire.com

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