Autins Group (AUTG)

 11.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 12.50
  • 52 Week Low: 8.00
  • Currency: UK Pounds
  • Shares Issued: 54.60m
  • Volume: 0
  • Market Cap: £6.01m

Autins FY sales grow, earnings turn positive

By Iain Gilbert

Date: Friday 20 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Insulation solutions group Autins said on Friday that annual sales and profits had improved, pushing underlying earnings back into the black and leaving it in a "positive position" to engage with lending partners.
Updating on trading, Autins said group sales increased 20% in the year to 30 September, to £22.5m, with sales continuing to gain momentum in the second half, increasing by 7.5% to £11.7m.

Gross profits improved roughly 55% to £6.5m, driven by an increase in revenues and "a strong recovery" in gross margins of 6.5 percentage points to 28.9%.

The AIM-listed group also said it had continued to "successfully control overheads", and underlying earnings were now expected to come in at £1.0m, compared to a loss last year of £1.1m.

Autins noted that the improved trading performance and stability of its net debt, to £1.8m from £2.0m, would put it in a positive position when engaging with lending partners regarding covenants for March 2024 onwards.

It also expects a continued recovery in the automotive market, which should led to further growth in sales and EBITDA in the current financial year.

As of 1050 BST, Autins shares were down 4.35% at 11.0p.

Reporting by Iain Gilbert at Sharecast.com

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Autins Group Market Data

Currency UK Pounds
Share Price 11.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 12.50
52 Week Low 8.00
Volume 0
Shares Issued 54.60m
Market Cap £6.01m

Autins Group Star Ratings

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Autins Group Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Jul-18 18-Jan-18
Paid 03-Aug-18 16-Feb-18
Amount 0.40p 0.80p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Autins Group Key Personnel

CFO Kamran Munir
CEO Andrew ('Andy') Bloomer

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