Sorry

I am aware that recently our lead times for Powrmatic products have become extended. Despite having entered the heating season with significant stock the level of order intake since November has far exceeded those experienced in prior years. Whilst a strong order book is indeed welcome the knock-on effect is that customers have had to wait longer then we’d like. In the short-term we have implemented a number of initiatives to reduce lead times and we are now seeing much improvements. However given the sustained nature of increased demand more permanent long-term strategies are necessary and I am pleased to tell you that as a first step we are to invest further in finished goods stock prior to the next heating season. I am also pleased to advise that plans are under-way for significant capital investment in the factory infrastructure which will provide a 40% increase in production and warehousing capacity. I would like to take this opportunity to personally thank customers for their patience and loyalty and to apologise to those who have had to wait longer than is normally acceptable.

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