By Joe Hoppe
Epwin Group announced on Monday that it anticipates an increase in first-half revenue and is confident in meeting market expectations for full-year underlying operating profit.
According to the UK-based building-products manufacturer, its first-half revenue climbed to approximately £180 million ($231.3 million) compared to £178.0 million in the first half of 2022.
Epwin Group is optimistic about meeting the market's full-year outlook. The company provided a company-collated analyst consensus for 2023 underlying operating profit, which is projected to reach £24.0 million—surpassing the £21.5 million reported the previous year.
Despite experiencing a slight moderation in business during the second quarter due to macroeconomic factors and fiscal tightening impacting demand, Epwin Group's core market remains resilient after a solid start to the year. While inflation pressures on raw-material costs have alleviated, the company continues to manage labor, power, and other inflationary cost pressures through pricing strategies.
Epwin Group acknowledges the presence of short-term headwinds but remains aware of the positive medium- and long-term market drivers for its products.
Shares of Epwin Group remained unchanged at 67.5 pence as of 0813 GMT.
Fast-food chain Chick-fil-A settles lawsuit by paying customers $4.4 million in rebates for increased prices of delivered food without notification.
Managers of mutual funds struggle to beat their benchmark, despite a recent increase in performance. Explore the challenges faced and the current trends in the...