Tyman says trading in-line, well-positioned for 2017

UK housing products supplier Tyman said trading in 2016 remains in line with expectations across the group as a whole, opining that it is well positioned for 2017 and beyond.

It said encouraging growth had continued in European markets and volumes had held up in UK and Irish markets, offsetting slower trading in North America since the half year.

"Constant-currency, like-for-like revenue in the year to date remains marginally ahead of 2015 and there has been incremental expansion in group profitability generated through pricing actions, early benefits derived from acquisitions and cost reduction initiatives," it said.

"The devaluation of sterling against international currencies in 2016 will also enhance the translation of revenue and operating profit compared with 2015," Tyman said in a trading update for the period 30 June to date.

"The group's broad international exposure and balanced portfolio means Tyman is well positioned for 2017 and beyond, despite macroeconomic uncertainties and continued currency volatility.

"Trading in 2016 remains in line with expectations across the Group as a whole."

At about 10:54 GMT, shares in Tyman were down 0.86% to 260.75p.