TURNOVER: £20-30m FRANK KEY l KELLAWAY
Frank Key
2016 was a year of restruc- turing, following three acquisitions in 2015, both in terms of manage-ment structures but also in legal structure.
There are now four trad- ing subsidiaries within the Group; Frank Key (Not- tingham) Limited, Builders Charles Watson (Ironmon- gers) Limited, Frank Key Tool Hire Limited.
Managing director James Norton said: “After a few years of consistent, high lev- els of year on year growth across all branches, we saw turnover growth begin to slow overall.
“Turnover growth was inconsistent, with some very busy months and oth- ers being relatively quiet. Margins remained healthy and customers continued to have busy order books. Credit risks appeared to increase, customer limits and payment were watched closely as a consequence. “We expect more of the same in 2017, customers continue to be busy which is
Kellaway Two acquisitions were
concluded by Bristol-based Kellaway at the end of 2016; following the acquisition of WTBS and Jennings plumb- the year.
The company’s Head Of-
KELLAWAY THE NUMBERS
Turnover £m Gross profit £m
12/13 26.6 5.8
Operating profit £k 486 Net profit £k
332 THE RATIOS 12/13
Stockturn 10.3 Gross margin %
21.7
Operating margin % 1.8 Net margin % Sales/head £k Profit/head £
1.2 191 3,496
Return on capital % 17.7 BMJ INDEX
A supplement to BMJ April 2017
13/14 10.3 22.3 2.5 2.1
198
4,891 27.9
14/15 11.1 22.3 4.0 3.6
207
8,209 40.5
545
13/14 29.1 6.5
719 616
Staff 139 147 HPS FRANK KEY
Portland Street, Daybrook, Nottingham, NG5 6BL Tel: 0115 920 8208
www.frank-key.co.uk
Branches: 7 plus 14 hire branches across Yorkshire and Lancashire Employees: 203
Chairman: Robert Sansom Managing director: James Norton Operations director: Russell Ostrowsky-Weston Hire director: Richard Meeks
% heavyside/lightside./timber: 75/10/15 Forecast turnover 2016: £28.2m
Members of: BMF, NBG, NMBS,
encouraging and there are many reasons to be positive. However, it is likely to be inconsistent at times and lead to pressure on margins as the year progresses.” Among the company’s ini- tiatives, which will continue this year, is the sponsorship of Team GB BMX rising star Elissa Bradford. The 15 year- old from Nuthall, was ranked number one in the UK in 2016 and has her sights set
on representing Team GB at the 2020 Olym- pics in Tokyo. Norton said: “Sup- porting the ambition of Nottingham and its young people is some- thing very important to us as a company, and Elissa certainly has ambition! We are looking forward to assisting her with her journey to Tokyo and her dream of bringing home a medal.”
- cant changes with invest- ment in improved training and meeting facilities and a 50% increase in the capac- ity for the staff. The site has also been chosen as a BMF Centre of Excellence.
% change
14/15 13/14 14/15 32.7 7.3
1,297 1,175 158
10 13 48 86 6
13/14 (0) 3
35 69 4
40 58
12 12 80 91 7
% change
14/15 8
(0) 60 70 5
68 45
In terms of the busi- ness, 2016 delivered strong growth sales growth and small margin growth across the branches.
investment, a companywide business intelligence plat- form was implemented and facilitated a shift in culture within the business. This investment, the company says, will enable the business to continue its growth trajectory without being held back by from systems or technology. Kellaway has already opened a new larger site for its newly acquired Worces- ter branch which, it reports, is trading well. In addi- tion, during the course of this year, the company will be relocating the Ashton branch to a new larger site just ¾ of a mile away, offer- larger stock range.
The company is also plan- ning another new branch opening during Q2 or Q3 of 2017.
KELLAWAY Group Head Office
Olympus House, Britannia Road Patchway, Bristol BS34 5TA Tel: 0117 906 3085
www.kellaway.co.uk/
www.marlboroughbuildingsupplies.
co.uk/ www.kellawaybathrooms.co.uk www.mphmerchant.co.uk www.avonside.co.uk/ www.griggsfortimber.co.uk www.bristoltile.co.uk
Managing director: Julian Milligan
Commercial and operations Director: Sean Morgan-
HPS
MPH commercial and operations director: Chris Edwards
Purchasing director: Bob Fleetwood
Finance director: Mark Turner
Branches: 27 Employees: 304 in total
% heavyside/lightside/timber sales: 55%, 25%, 20%
Forecast turnover this year: achieved £52 m to Dec 2016. 2017 is targeted at £59m.
Members of: BMF, NMBS, NBG 35
HPS I COMPANY NAME
TRAILBLAZERSBMJ
FRANK KEY THE NUMBERS
Turnover £m Gross profit £m
2013 16.4 6.1
Operating profit £k 701 Net profit £k
626 THE RATIOS 2013
Stockturn 7.6 Gross margin %
37.0
Operating margin % 4.3 Net margin % Sales/head £k Profit/head £
3.8 137 5,840
Return on capital % 12.5 BMJ INDEX
2014 8.6
33.3 4.8 4.4
158
7,551 15.5
2015 7.4
34.7 5.1 4.8
128
6,513 19.6
1,202
2014 19.7 6.6
944 866
Staff 120 125
2015 26.0 9.0
1,329 1,250 204
% change
2014 20 8
35 38 4
2014 13
(10) 12 15 16 29 24
2015 32 37 41 44 63
% change
2015 (14) 4 7 9
(19) (14) 27
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