Last checked at 19 Dec 2014 07:00
Epwin Group Plc
("Epwin" or the "Company")
Trading Update and Board Changes
Epwin Group Plc (AIM: EPWN) ("Epwin" or the "Group"), the vertically integrated manufacturer of extrusions, mouldings and fabricated low maintenance building products, supplying the Repair, Maintenance and Improvement ("RMI"), new build property and social housing sectors, provides the following update for the current financial year to 31 December 2014.
Highlights include:
- Results for the year expected to be in line with market expectations;
- The Group continues to shape its operations for the future.
- Andrew Eastgate appointed as Chairman.
The business continues to perform well and results for the year ending 31 December 2014 are expected to be in line with market expectations.
Epwin is also pleased to announce the appointment of Andrew Eastgate as Chairman. Andrew has served the Board as a Non-executive Director since IPO, whilst also serving as director of the old Epwin holding company between 2008 and 2012. Andrew was formerly a Partner at Pinsents where he was head of Pinsents' corporate practice in Birmingham and is a Non-executive Director of Headlam Group Plc.
Andrew replaces Peter Mottershead who is leaving to focus on other work commitments. The Board will appoint further Non-executive Directors in the New Year.
The Board believes that the Group is well placed to continue to grow its operating profits and to capitalise on anticipated future market improvements.
The Group will continue to progress on the rationalisation programme of its operations to shape it for future growth with improving margins.
Jon Bednall, Chief Executive Officer, Epwin Group said:
"The Group has traded well since our Half Year results in September and we're delighted to be set to deliver results in line with expectations for our maiden Full Year.
"We'd also like to take this opportunity to thank Peter for his time as Chairman of Epwin, having overseen a key period in the company's history following our public listing earlier this year.
"We're delighted that Andrew has agreed to take on this role, given his extensive experience in advising quoted companies and his knowledge of Epwin, having already served the company for a number of years and overseeing two transformational transactions in our merger in 2012 and IPO this year."
Epwin will announce Full Year results for the 12 months to 31 December 2014 in April 2015.
Contact information
Epwin Group Plc Jon Bednall, Chief Executive Chris Empson, Group Finance Director
| +44 (0) 121 746 3700 |
Zeus Capital Limited (Nomad and Broker) Nick Cowles / Andrew Jones / Jamie Peel, Corporate Finance John Goold / Dominic King, Corporate Broking
|
+44 (0) 161 831 1512 +44 (0) 207 533 7727 |
Maitland Tom Eckersley / Lucy Watson
| +44 (0) 20 7379 5151 |
Notes to Editors
Andrew Eastgate
Andrew was formerly a Partner at Pinsents where he was head of Pinsents' corporate practice in Birmingham. Andrew has a broad experience of advising quoted companies, particularly in connection with transactions and compliance issues, and is currently a non-executive director and chairman of the audit committee of Headlam Group plc. Andrew was previously a Non-executive Director of Epwin and resigned on the merger with the Latium businesses in 2012, following which he was appointed as a non-executive director of Pentwin Limited, a private company owned by AJ Rawson. Andrew resigned from the board of Pentwin Limited on 30 June 2014.
About Epwin
Epwin is a vertically integrated manufacturer of extrusions, mouldings and fabricated low maintenance building products, supplying the RMI, new build property and social housing sectors.
It is structured in three primary operating divisions, designed to provide the most appropriate and relevant product offerings for its customers. These are the Building Components Division, Building Products Division and Window Systems Division.
The Company is incorporated and domiciled in the United Kingdom. It operates principally in the United Kingdom.
www.epwin.co.uk