Full Year Results 

Epwin overtaken by external factors

Epwin overtaken by external factors

Management at Epwin (EPWN) will be hoping that sterling's recent appreciation against the US dollar and euro gathers momentum through 2018. The building products manufacturer saw top-line growth on the back of new product launches (and a full-year contribution from its National Plastics acquisition), but profitability was constrained due to currency-linked cost inflation, together with a £7.1m increase in administration expenses. Even on an adjusted basis, operating profit was down 12.9 per cent to £22.3m, but other factors beyond management's control undermined financial performance and investor sentiment.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now