Volution Group PLC reported a ‘positive start’ to its new financial year, as it enjoyed a strong performance in its UK residential-focused offering.
The Crawley, England-based energy efficiency and indoor air-quality solutions firm said revenue in the four months to November 30 was up 1.3% on-year to around £123 million. Organic growth at constant currency was 2.5%, it said, adding that there was no inorganic growth in the period.
The company said it ‘expects to deliver another year of good growth in both revenue and operating profit’.
Volution also said its adjusted operating margin improved compared to the last financial year. It attributed this to ‘our operational excellence programme, the introduction of new products to the market and our ongoing focus on value engineering and input cost initiatives’.
Revenue performance was strongest in UK residential. It said products introduced to address the 2021 building regulations continued to gain share with housebuilder customers.
It added that revenue improved in continental Europe and the year had ‘started well’ in Australia. However, the New Zealand market ‘remains challenging and trading activity levels have been weak’.
Volution said the acquisition of Fantech Group, completed earlier this month, will help to deliver growth this year.
Shares in Volution were down 0.3% at 549.27 pence in London on Wednesday morning.
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