Glass mineral fiber insulation maker Superglass Holdings plc said demand from the government“s extended CERT (carbon emissions reduction target) home energy savings scheme remained uncertain.
In an …
Glass mineral fiber insulation maker Superglass Holdings plc said demand from the government“s extended CERT (carbon emissions reduction target) home energy savings scheme remained uncertain. In an interim management statement for the period from 1 September at its AGM held on 14 January, Superglass said trading since its 24 November results provided few indicators of underlying performance because of weather conditions. “A snapshot of the position today reveals solid trading with specialist distributors and builders“ merchants, but as anticipated a slow start to the newly extended CERT programme.“ Refurbishment of the company“s second furnace remained on schedule for completion by the end of January. The company expected its performance to be significantly weighted towards the second half. CERT remained the key driver for trading in the short term and factors underpinning growth in this channel were strengthening. “However, the timing and rate of growth in demand arising from the CERT extension remains uncertain and will ultimately determine the outcome for the financial year.“ CERT was extended from March 2011 to December 2012 with a new higher target and significantly refocused around supporting insulation.