30 January 2026 - trading update
Although we had to sell our holding of Stelrad last month in the Aggressive Growth Portfolio to create some liquidity we were disappointed as we still felt the shares were worth holding. Today’s trading update covering the year to 31 December has reinforced that view despite the tough trading conditions. Overall volumes fell by 4% during the year although the second half saw an improvement. An improvement in margins means that adjusted operating profit rose by 3% during the year to £32.5m in line with expectations. Net debt also reduced during the year . . .
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