Tyman PLC (LON:TYMN) shares jumped higher on Wednesday after the door and window component maker told investors full-year profits and revenue are likely to be higher than 2018, despite challenging markets.
In a trading update, the FTSE All-Share-listed company said European and UK markets had weakened since its half-year results were published in July, while North American markets saw flat trends with no signs of improvement.
“For the full year we expect reported revenue and adjusted operating profit to be ahead of 2018, assisted by contributions from last year's acquisitions and the strength of the US dollar against sterling,” Tyman chief executive Jo Hallas said in the release.
“Whilst our main markets remain challenging, we are pleased with the progress being made in our operational performance in North America, with both customer service levels and productivity showing an improving trend.”
Tyman shares were up 8% to 223p on Wednesday morning.