Alumasc Group (LSE: ALU) said today that first-quarter revenue rose 10% from a year earlier and its order book is 67% higher. The UK supplier of premium sustainable building products, systems and solutions updated the market ahead of its annual general meeting at 10am.
The board said the financial year to the 30th of June 2027 is on course to meet expectations. That is a confirmation rather than an upgrade, but it comes with growth in every division despite a tough construction market.
Group revenue growth was 9.6%, which rounds to the 10% headline. Water Management grew 13.3%, Building Envelope 7.0% and Housebuilding Products 6.4%. Alumasc said margins improved as expected, helped by operational gearing and the benefit of recent restructuring.
The order book at the end of September was 67% above its level twelve months earlier. Order intake was strong, with early signs of better conversion into sales, and the book grew even though customers called off orders faster.
October has added two wins. Building Envelope took a £2.1m order for the first phase of a student accommodation refurbishment at Manchester University. Water Management won £0.4m for the first phase of an upgrade at Tin Can Island Port Complex in Nigeria, widening its exports beyond the Middle East and Asia.
Interim Executive Chair Vijay Thakrar framed the quarter against a weak backdrop.
Against such a tough economic and construction market backdrop, it is encouraging to see the positive revenue and order intake momentum continue over Q1 FY27 and into the first weeks of Q2 across all of our divisions.
Vijay Thakrar, Alumasc
Airport work flattered the quarter. It included the first call-offs from the £2m Changi Airport Singapore project and further sales to Hong Kong’s Chek Lap Kok airport. Without those, revenue was 5% higher, despite subdued demand, particularly in UK residential construction.
Timloc, the Housebuilding Products business, has no order book because it delivers next day, and it continues to win market share in a difficult housebuilding market.
The board remains confident of progress in the year, in line with expectations. The test now is whether the larger order book turns into revenue.