Stelrad Group, which employs 300 people in South Yorkshire, reports encouraging start to 2023

The statement added: “As outlined at the full year results, the group has seen the lower volumes reported in the second half of 2022 stabilise in the first half of 2023.

"After an exceptionally strong first half prior year comparator, 2023 is expected to return to historical seasonal patterns with volumes in the second half of the year stronger than the first half.”

The statement added: “The strategic acquisition of DL Radiators in July 2022 has been successfully integrated into the group, enabling Stelrad to leverage a complementary product range, additional geographic territories and channels to market that enhance the transition to the low and zero carbon heating systems of the future.”

Stelrad’s strategic objectives of growing market share, improving product mix, optimising routes to market, and positioning the business for decarbonisation mean that the group remains very well positioned to deliver on its full year expectations and deliver long-term, sustainable value for all its stakeholders, the statement added.

Trevor Harvey, chief executive of Stelrad, commented: “We are pleased that the positive start to the current financial year outlined at our full year results has continued and we remain on track to deliver on our full year expectations.

"Our customer base is increasingly focused on reducing energy consumption in their homes and Stelrad’s products are well positioned to help consumers achieve affordable and environmentally sustainable heating solutions.

"Our strategic objectives are unchanged and we are confident in our ability to continue growing our market share and to deliver long-term, increasing value for all our stakeholders.”

Stelrad intends to announce its interim results for the six months ending June 30 2023 on August 14 2023 and will provide a further update on its progress at this time.

Following the acquisition of DL Radiators in July 2022, the group has five core brands: Stelrad, Henrad, Termo Teknik, DL Radiators and Hudevad.

Stelrad is headquartered in Newcastle and its manufacturing and distribution facilities include a site in Mexborough, South Yorkshire, where it employs around 300 people.

Stelrad Group sells a range of hydronic, hybrid, dual fuel and electrical heat emitters to more than 500 customers in 40 countries.

These include standard, premium and low surface temperature (LST) steel panel radiators, towel warmers, decorative steel tubular, steel multicolumn and aluminium radiators.