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Alumasc Reports Continued Profit Growth

Building product manufacturing firm Alumasc has reported a record order book and a fifth successive year of profit growth.

Alumasc generated a £92.2 million revenue for the year to June 30 2016, which was a 2% increase on last year’s figure of £90.3 million, while profit before tax increased by 59% to £7.7 million (from £4.8 million in 2015). The order book at the end of the financial year was £26.6 million.

Throughout the year, Alumasc completed its strategic re-focusing on Premium Building Products, Systems & Solutions with the £4 million sale in June this year 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 increased by 8% to £17.4 million, while operating profit rose by 3% to £1 million, 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.

Revenue from Water Management increased by 2% to £27.6 million, while operating profit rose by 7% to £3.5 million, primarily driven by Alumsac Water Management Solutions. The Gatic engineered access covers business has recently won a number of significant projects, mainly for export markets.

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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BDC 318 : Jul 2024