Acquisition of DL Radiators in July 2022 strongly aligned with strategic objectives.
Stelrad Group plc, a leading specialist manufacturer and distributor of steel panel radiators in the UK, Europe and Turkey, has today (12 August) announced its unaudited interim results for the six months ended 30 June 2022.
The financial and operational highlights are as follows:
Commenting on the Group’s performance, Trevor Harvey, Chief Executive Officer, said: “After entering 2022 with good momentum, we are pleased to have delivered strong financial performance during the first half of the year, testament to the underlying resilience of our business, with increased revenues and improving margins per radiator more than offsetting previously flagged volume reductions.
“Rising energy costs across Europe are sharpening consumers’ focus on the need for more energy efficient heating solutions and this, combined with the ongoing decarbonisation agenda, is expected to drive increased, long-term demand for our products.
“While we continue to monitor the challenging economic conditions in our end markets closely, we remain confident in the outcome for the full year and are well-positioned to drive long-term shareholder value thanks to the resilience of our business model, our market-leading positions and the strength of our customer and supplier relationships.”