Volution Group revenues up 14.6% amid boost from acquisitions
StockMarketWire.com - Ventilation products maker Volution Group said annual revenues rose 14.6% thanks to a boost from acquisitions.
For the financial year ended on 31 July 2019, revenue increased 14.6% to £236m, of which 12.0% was the result of acquisitions, the company said.
Growth for the year in the UK was 3.3% and in the Nordics growth was 28.1%, whie Central Europe and Australia growing revenues by 8.9% and 172% respectively.
In the UK, the company benefitted from a return to growth in public residential renovation maintenance improvement (RMI) of 5.3%, partly as a result of the significant enhancement 'we have made to our product portfolio and sales processes in the last two years,' Volution said.
Looking ahead, the company said it expected to meet expectations for the full and said the reading facility upgrade and acquisition of Ventair were now both complete.
'We're pleased the project to rationalise two older production facilities in to one new purpose built future-proofed facility in Reading in the UK is now complete, and are delighted to have acquired Ventair in Australia, further increasing our geographic diversity and market reach,' said Ronnie George, Chief Executive Officer of Volution Group.
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