An AGM statement warning that industry-wide labour shortages triggered project delays led Alumasc's (ALU) market value to contract by nearly a quarter in the following two days. That reaction came despite the building supplier indicating the further strengthening of margins and growing order intake, thanks in part to a recently announced £3m contract to supply bespoke screening for a US power station.
IC TIP:
Buy
at
175p
The group confirmed the capacity constraints, which affected just the UK roofing business, were short term. As such, management expected Alumasc to achieve its full-year targets, prompting broker finnCap to leave its adjusted EPS forecast of 19p unchanged.
