Volution Group plc (LON:FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, has announced an update on trading covering the four months ended 30 November 2024, ahead of its Annual General Meeting which is being held later today.
Revenue for the four months ended 30 November 2024 was c. £123 million, up 1.3% versus the prior year. Organic growth at constant currency was 2.5%. There was no inorganic growth in the period. The Group adjusted operating margin has again improved compared to FY 2024, underpinned by our operational excellence programme, the introduction of new products to the market and our ongoing focus on value engineering and input cost initiatives. Free cash flow has remained consistent driven by good trading and continued focus on working capital.
Similar to the prior financial year, revenue performance has been strongest in UK residential, where our product solutions introduced over recent years to address the 2021 Building Regulations continue to gain share with housebuilder customers. We have also seen an improvement in revenue in Continental Europe with ClimaRad in the Netherlands performing strongly, whilst the introduction of Group products is contributing to growth in France. In Australasia the year has started well in Australia, though as previously reported the New Zealand market remains challenging and trading activity levels have been weak.
We continue to make good progress with our ESG initiatives, most notably utilisation of recycled plastics in our production facilities with the already strong performance in the UK being complemented by a major step up in recycled plastic usage in the Nordics.
With positive organic growth momentum and margin expansion in the first four months of the year, together with the recently announced completion of the Fantech acquisition, Volution Group expect to deliver another year of good growth in both revenue and operating profit.
