Alumasc shares (LON: ALU) surged almost 16% on Thursday after the group revealed record profits in the first quarter.
The building products, systems, and solutions group saved £2.4m from last year’s restructuring and saw strong cash generation.
The chairman of Alumasc said: “It is still too early to know the extent to which the strength in the UK construction industry, which underpins this performance, reflects pent up demand from the period of lockdown as opposed to the true level of ongoing demand. However, there is nothing abnormal in the strong patterns of demand that we have experienced, with new commercial ventures continuing to lag other subsectors of the market.
“Despite the uncertainty present in the commercial sector, Levolux continues to respond to the prior restructuring and remains on track to return to sustainable profit, as it has been in the financial year to date.
“The strong bounce experienced by Alumasc in the UK has been supported by a lively export performance. Current orderbooks remain robust in general and include a growing list of export projects won in recent months, which are due to be delivered in the current financial year.
“In addition to the growing emphasis on sustainability, there are early signs of the promised acceleration in infrastructure expenditure by the UK government, which is expected to boost demand in the coming months.”
Alumasc shares (LON: ALU) are trading +15.97% at 92,20 (1629GMT).
