Sep 04, 2024 / 08:00AM GMT
Darren Waters – Eurocell PLC – Chief Executive Officer
Thank you, and welcome, everyone. Thanks for joining us this morning. I’m Darren Waters, CEO; and onside me is Michael Scott, our CFO. So the headline level, I’m pleased to report that we delivered a decent first half performance with profits up 33% at GBP8 million despite a tough market environments. And if you cast your mind back to last year during the first half of 2023, we were impacted by the downturn in the newbuild market.
This year, we’ve experienced the combined effect of a weak housing market and a softer demand in our reminder. Even though the CPA are reporting a 6% fall in private RMI, my view is that the overall market is down as much as 10% versus 2023. So I think we’ve done well to mitigate that with a 5% drop in revenues, and that’s largely as a result of the progress we are making on our strategic initiatives, and we’ll cover that in more detail later in our presentation.
In July and August, we’ve seen some early signs of a slight pickup in demand from the housing market, which is obviously very welcome. And we’re
