LONDON (ShareCast) - (Sharecast News) - Door and window components supplier Tyman said on Tuesday that trading momentum seen in the third quarter had continued to exceed expectations into the fourth, with strong underlying demand being experienced across all divisions.
Tyman said group revenues had declined 9% to £526.0m on a reported basis and by 8% on a like-for-like basis for the eleven months ended 30 November but noted that revenues in October and November were just 1% behind 2019 on both a reported and like-for-like basis.

The London-listed group highlighted that supported by its strong trading and high levels of cash generation, it had successfully maintained "significant liquidity headroom" and as a result, now intends to repay the £2.3m received under the UK Government's Job Retention Scheme in full by the end of December.

Tyman also noted that it continues to be of the view that if momentum can be maintained into 2021, consideration will be given to the appropriateness of a "modest final dividend" for 2020.

Chief executive Jo Hallas said: "While the outlook into 2021 remains uncertain, we are reassured by the robust performance of Tyman's businesses and the strength of structural industry growth drivers, particularly in the US.

"Our strategic initiatives continue to position the business well for future growth, building on our portfolio of differentiated products, market-leading brands and deep customer relationships."

As of 0915 GMT, Tyman shares were flat at 321.0p.

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