Alumasc continues on growth path
Building products manufacturer Alumasc has reported its fifth successive year of profit growth and a record order book.
For the year to 30th June 2016, Alumas generated revenue of £92.2m, a 2% increase on the previous year’s £90.3m. Pre-tax profit rose 59% to £7.7m (2015: £4.8m). Order book at financial year-end was £26.6m.
During the year Alumasc completed its strategic re-focusing on Premium Building Products, Systems & Solutions with the £4m sale in June 2016 of its last remaining engineering business, Dyson Diecastings. All the company's niche operations are now related to the building trade.
Solar Shading & Screening revenue was up 8% to £17.4m and operating profit up 3% to £1m, with Levolux trading ahead of expectations.
Roofing & Walling performed strongly although revenue was down 1% to £40.1m and operating profit down 11% to £4m reflecting the completion of the £12m Kitimat project in 2014/15 and government cuts to the Eco and Green Deal schemes. Otherwise, roofing sales remain good and following investment in new sales resources and products, walling is gaining traction in new build and beginning to develop new export markets in the Middle East.
Water Management revenue was up 2% to £27.6m and operating profit up 7% to £3.5m, mostly driven by Alumasc Water Management Solutions. The Gatic engineered access covers business has recently won a number of significant projects, mainly for export markets.
Revenue in the Housebuilding & Ancillary Products division was up 10% to £8.6m and operating profit up 25% to £1.4m, reflecting another record year for Timloc. Alumasc said that Timloc “continues to out-perform the UK house-building products sector, adding new products and expanding geographic reach”. As part of growth plans, a lease on premises at Goole was signed in July 2016 and the new facility will be available for occupation in late 2017.
Chief executive Paul Hooper said: "We believe all our businesses have significant growth opportunities because of their strategic positioning in growing market niches and international potential."
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This article was published on 1 Sep 2016 (last updated on 1 Sep 2016).