viewVolution Group PLC

Volution trading picks up but job cuts expected

All its facilities are now operational but the supplier of ventilation products is looking to cut costs

Volution Group PLC - Volution trading picks up but job cuts expected

Volution Group PLC (LON:FAN) said trading has been improving while all facilities, including the ones in the UK, are now operational.

However, the supplier of ventilation products said there will be a “small number” of job cuts as part of a cost-saving programme.

Trading outside the UK, which accounts for half of group revenues, reached 91% of prior year levels in May.

UK activity remains subdued but was down 58% in May, from a 70% plunge in April.

Cash in the bank increased to £49mln from £41mln in the two months to May 31, while there are £120mln available in a revolving credit facility.

Shares rose 7% to 177.5p on Friday morning.

Quick facts: Volution Group PLC

Price: 182.88 GBX

Market: LSE
Market Cap: £362.33 m

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