Volution Group shares rise on strong start to year

Volution Group (LSE: FAN) shares climbed over 5% on Wednesday after the ventilation products supplier said it has made a “strong” start to its financial year.

The company reported that revenue in the four months to November 30 rose 8.0% from last year to around £121 million. It cited “strong pricing discipline” and a boost from recent acquisitions for the growth.

Volution said margins have also improved thanks to “an ongoing focus on our operational excellence programme.” Organic growth at constant currency was 2.9%, while inorganic growth was 7.7%.

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The FTSE 250 firm now believes it will surpass current market expectations for adjusted earnings per share of 25.3-26.3p in FY 2024, compared to 25.8p last year. It pointed to the strong early trading and benefits from its three 2022 acquisitions.

Volution Group is up 11% year-to-date and 19% over the last 12 months.