Eurocell has made a positive start to 2017 and current trading is in line with its expectations for the full year, shareholders at the annual general meeting today will be told.
The group said: "In the Profiles division, our larger fabricators continue to grow strongly, taking a greater share of the available volume mix.
"We are building our prospect pipeline and will be moving a number of new customers onto our product systems over the remainder of the year.
"In the Building Plastics division, trading in the expanding branch network continues to be strong.
"Raw material price pressure remains, particularly for resin and we are implementing selling price increases to mitigate this.
"The market lags supplier price increases and we are managing our underlying operating costs tightly.
"We have made good progress with key strategic initiatives."
It said this included:
- Expanding the branch network - on track to open 30 new branches in 2017, with 10 new sites so far this year.
- Recycling - use of recycled material increased as anticipated
- Acquisitions - integration of Security Hardware progressing in line with plans
It added: "Overall, we have made a good start to the year and are taking share in a broadly flat RMI market."
At 9:48am: (LON:ECEL) Eurocell Plc share price was +3.5p at 257.5p