LONDON (ShareCast) - (Sharecast News) - Automotive acoustic and thermal insulation company Autins Group updated the market on its trading for the year ended 30 September on Monday, saying it was expecting to report 2019 financial year results in line with market expectations.
The AIM-traded firm said the "extensive" management actions employed to reduce costs and increase operational efficiency had successfully delivered improved profit margins.

It said it was "well-placed" with sufficient capacity to take advantage of the "many opportunities" in its pipeline, to grow and diversify the business.

Sales to customers outside the UK were said to be progressing well, and the board said it was pleased with developments made by its lightweight high-performance material 'Neptune' in securing multiple new business client wins, and with production levels ramping up towards the end of the 2019 financial year, which had continued in the new year.

The group said it was continuing to successfully pursue work on new vehicle platforms, with new and existing original equipment manufacturer customers, as part of its overall growth and diversification strategy.

"This has been a challenging year for both the industry and the Group, but it has also been a year of repositioning, recovery and new business wins," said chief executive officer Gareth Kaminski-Cook.

"The positive momentum is encouraging and, combined with a stronger balance sheet following the successful placing in the summer, gives cause for optimism for the year ahead."

Autins said it would publish its results for the year ended 30 September on 11 December.

As at 0807 GMT, shares in Autins were up 2.44% at 21p.

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