Radiator manufacturer Stelrad has raised its full year adjusted operating profit expectation to a range of £32m to £33m, despite citing subdued market activity in recent months.

The company revealed it had been implementing “proactive” margin management initiatives and cost reduction activities, and that “continued operational excellence” had helped to offset declines in volumes.

Stelrad, which manufactures and distributes central heating radiators, was issuing a trading update for the 10-month to 31 October.

It revealed that its H2 performance so far had pointed towards “a degree of stability” in the rate of volume declines compared to H1, although the group warned that the backdrop of ongoing economic uncertainty had supressed volumes, resulting in lower revenues than last year.

Stelrad, headquartered in Newcastle upon Tyne, also has manufacturing and distribution facilities in Turkey, Italy and the Netherlands.

The company’s ongoing H2 period has seen Stelrad restructure its Turkish business as part of a move to enhance operational margins in the future, with an exceptional expense of £1.6m being incurred in 2025.

“Stelrad continues to deliver a strong operational performance and remains on track to achieve growth in adjusted operating profit and margin expansion year-on-year, despite the subdued volume environment,” chief executive, Trevor Harvey, commented.

“Whilst the continued delay in end-market recovery remains frustrating, Stelrad’s flexible, low-cost manufacturing footprint, outstanding customer service and unmatched product availability means that the group remains well-positioned for the eventual recovery in our end markets, and I remain confident in our ability to deliver long-term value for our stakeholders.”

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