Stelrad Group PLC - Newcastle, England-based steel panel radiator manufacturer - Says revenue in 2022 is estimated to be GBP312 million, up 15% from GBP272.3 million in 2021. Expects to deliver a record adjusted operating profit of GBP34 million, up from GBP33.2 million in 2021. Adds that "rising energy costs across Europe and the drive towards decarbonisation are both expected to underpin further, long-term demand for the group's products".

Chief Executive Trevor Harvey says: "Despite well-publicised macroeconomic headwinds in our end markets, the group performed broadly in line with its expectations in 2022, a testament to the resilience of our business model and market position, the robustness of our strategy and the dedication of our team."

Stelrad intends to announce full-year results on March 13.

Current stock price: 115.50 pence, down 2.9% on Friday morning in London

12-month change: down 46%

By Xindi Wei, Alliance News reporter

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