Lupus Capital forecast a 10 percent rise in full-year sales, driven by strong demand in its building products unit, but said it does not expect end market conditions to improve materially in the United States and UK in 2011.
British construction activity contracted last month for the first time since February, reinforcing fears that the sector will no longer be able to drive the recovery in the way it did for much of last year.
The company, which focuses on the British and U.S. residential housing markets, said it expects 2010 full-year sales of about 266 million pounds, compared with 241.6 million pounds in 2009. Building products sales rose 10 percent to 252 million pounds.
Two analysts on average expect the company to post full-year sales of 250.3 million pounds, according to Thomson Reuters I/B/E/S.
In September, the company had forecast full-year results ahead of market expectations and posted a 68 percent rise in its first-half pretax profit, as customers in North America restocked inventories.
Lupus shares, which have gained about 18 percent over the past three months, closed at 129.75 pence on Thursday on the London Stock Exchange (LSE: LSE.L - news) .
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