Volution profits double on climate change, Covid awareness

Ventilation equipment maker Volution said annual profits more than doubled on the back of more awareness of climate change and the need for cleaner air indoors during the Covid pandemic.

The company on Thursday reported a 106% rise in pre-tax profits to £30m for the year to July 31 as revenue soared 25.8% to £272.6m. A dividends of 6.3p a share was declared.

Volution said “significant interruptions” to the supply chain and high levels of input cost inflation and logistics price rises through the year, particularly in the UK, had continued into the start of the new financial year.

“Despite these challenges, as well as recent and ongoing Covid-19 related lockdowns in our Australasian market, overall, we are providing good levels of customer service as well as securing price rises to mitigate the impact of cost inflation,” it added.

“The continuing Covid-19 pandemic, coupled with a greater focus from governments across the world in dealing with the issues of climate change, has led to a far greater awareness of the importance that indoor air quality and ventilation have on both the energy efficiency and health environment inside buildings. We expect that awareness to continue to grow in the period ahead."