LEAGUE TABLES
Pandemic and supply issues show their effects
L
ast year’s Trailblazers showed, in parts, the start of the effect of the pandemic, the initial shut-down in March 2020, and subsequent material supply shortages. This year, those effects are rather more apparant. Last year, we had to go down as far as number 36 in the Turnover Growth League before getting to negative percentages; this year, we’re at 24. As we explain in the commentary, there are any number of reasons why financial results might reflect a negative growth on paper. That said, there is still half the table which has managed to increase turnover. In many cases, this has a lot to do with acquisitions as well as organic growth.
NB. Because Trailblazers uses information in the public domain from Companies House, the financial tables used predate some of the industry’s most recent acquisitions. They also use the latest financial records that are available; for the most part this is for the year 2020. Some results have been filed since the tables were compiled.
We have used Parkers, CRS, Grant & Stone and RGB separately in these League Tables to show the historical development of the companies that now make-up IBMG. We believe this to be a more accurate representation of how the businesses are doing and how they relate to the rest of the market than the umbrella IBMG figures. In time, this will of course, change, when we get 3 solid years for IBMG.
TURNOVER
Travis Perkins maintains its seemingly unassailable position at the top of this table. Based on the latest filed turnover figures, it could be displaced as the market leader only in the unlikely event that a merger took place between all of the following: Saint Gobain, Wolseley, Grafton, MKM, Huws Gray, Lords, UK Plumbing Supplies, Brewers, Bradfords and EH Smith. And even then, once the branch duplications and necessary rationalisation had been sorted out, the newly merged competitor would almost certainly still fall short of TP’s sales figure. But a single figure in isolation rarely tells the full story: TP is the star performer in this table, but when we look at growth, productivity and margin performance, it becomes clear that biggest doesn’t always mean best.
TURNOVER GROWTH
This is a table which needs to be read with great care. Under normal circumstances, sales growth rates reflect a combination of organic growth and/or acquisition activity; but these are not normal circumstances. Depending on an individual company’s financial reporting period, apparent sales growth will reflect its exposure to lockdown rules during that period. In other words, if company A’s latest reporting period includes a significant lockdown period and company B’s doesn’t, then the growth figures simply aren’t comparable. Regardless of that, Lord’s massive growth of 194% reflects its acquisition of APP Wholesale during the year; Saint Gobain’s 182% is attributable to a corporate reorganisation; National Timber Group Scotland’s 47% is partly the result of a merger with a sister company; and Beggs & Partners’ 37% reflects its acquisition of SX Heating & Plumbing.
Source: BMJ analysis of filed company results 4
TURNOVER: TP STILL WAY AHEAD
1. Travis Perkins 2. Saint Gobain 3. Wolseley UK
4. Grafton Merchanting GB 5. MKM
6. Huws Gray 7. Lords
8. UK Plumbing Supplies 9. Brewer
10. Bradford & Sons 11. EH Smith
12. Haldane Shiells 13. Arnold Laver 14. Lawsons
15. Howarth Timber Supplies 16. JT Atkinson 17. Builder Depot 18. Williams
19. James Hargreaves 20. Sydenhams 21. MGM Timber
22. Parker Building Supplies 23. Joseph Parr 24. LBS
25. James Burrell 26.Elliott Bros 27. RGB
28. J T Dove
29.Covers
30. MP Moran 31. Grant & Stone 32. John Nicholls 33. Markovitz
£6,157.5m £2,254.3m £1,660.8m £768.9m £470.2m £356.2m £287.7m £203.8m £166.7m £156.0m £143.3m £132.3m £124.0m £106.3m £100.4m £98.9m £96.6m £93.4m £89.4m £83.3m £80.2m £74.8m £69.4m £68.5m £68.2m £67.9m £67.1m £67.1m £63.0m
£59.3m £58.6m £56.0m
34. National Timber Group Scotland£55.6m 35. Walter Tipper 36. Kellaway 37. Turnbull
38. Alsford Timber 39. C&W Berry 40. AW Lumb 41. Carver 42. CRS
43. Beggs & Partners 44. Beesley & Fildes
45. Robert Price & Sons 46. Crossling
47. Robert Pochin
48. Myers Building Supplies 49. Browns
50. AW Champion 51. Beatsons 52. Kent Blaxill 53. Frank Key
54. John A Stephens
£50.3m £49.2m £45.1m £44.5m £44.3m £43.3m £43.3m £42.6m £42.5m £42.2m £42.1m £38.9m £34.4m £33.5m £31.9m £31.1m £29.6m £25.8m £25.6m £24.1m
TRAILBLAZERS
TURNOVER GROWTH: HUGE VARIATIONS
1. Lords 2. Saint-Gobain
194% 184%
3. National Timber Group Scotland 47% 4. Beggs & Partners 5. Markovitz 6. CRS
7. EH Smith 8. Wolseley
9. UK Plumbing Supplies
10.LBS
11.Beesley & Fildes
12.Robert Pochin
13.Lawsons
14.JT Atkinson
15.Parker Building Supplies
16.Carver
17.MP Moran
18.Beatsons
19.AW Lumb 20.Williams
21.MKM
22.J T Dove
23.AW Champion 24.Haldane Shiells
25.Sydenhams
26.Kellaway 27.Turnbull
28.James Hargreaves
29.Myers Building Supplies
30.Howarth Timber Supplies
31.John Nicholls
32.Joseph Parr
33.Walter Tipper 34.RGB
35.James Burrell
36.Huws Gray
37.Alsford Timber
38.John A Stephens 39.Elliott Bros
40.Browns
41.Builder Depot
42.Travis Perkins
43.Robert Price & Sons
44.Frank Key
45.Arnold Laver
46.Grafton Merchanting GB
47.Kent Blaxill
48.Crossling
49.Brewer
50.C&W Berry
51.Covers
52.MGM Timber
53.Grant & Stone
54.Bradford & Sons
37% 24% 20% 20% 18% 17% 15% 10% 10% 9% 9% 8% 7% 7% 6% 6% 4% 3% 2% 1% 1% 1% 0%
-0% -1% -1% -2% -4% -4% -5% -5% -5% -6% -8% -9%
-10% -10% -11% -11% -14% -15% -15% -18% -19% -19% -20% -20% -21% n/a n/a n/a
A supplement to builders merchants journal April 2022
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