Radiators manufacturer Stelrad Group has strong brands and a significant position in many European markets. Stelrad sells to 40 countries, although the UK is the biggest revenues generator. Radiators will still be needed even if gas boiler sales are ended.
Replacement drives radiator demand with three-quarters of the UK market, with new build accounting for 16%. This makes the business less cyclical. Recent Covid-19 lockdowns have boosted home improvement spending, although revenues were sti...
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