Q2 2023 Eurocell PLC Earnings Call Transcript
Hello, and welcome to the Eurocell plc's Half Year Results Conference Call. My name is Laura and I will be your coordinator for today's event. Please note this call is being recorded. (Operator Instructions)
I will now hand you over to your host, Darren Waters, to begin today's conference. Thank you.
Thanks, Laura. Welcome to Eurocell half 1 results presentation. I'm Darren Waters, CEO, and this is my first results presentation having joined the business in April. Sitting alongside me is Michael Scott, CFO, who I'm sure needs no introduction. Now a number of our peers have already reported on the first half numbers so I'm not going to repeat stuff that you've already heard. But suffice to say that the first half has been a lot tougher than we expected with profit before tax at GBP 6 million, down 60% versus the same period last year. Q1 was particularly tough for the business due to the combination of lower seasonal volumes and a softening market especially in new build. In response, we've acted quickly
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