NEWSROUND Lords branches out into Chiltern Timber
Builders merchant group Lords has bought Chiltern Timber Supplies Limited, an independent timber merchant operating from a single site in Hemel Hempstead, Hertfordshire.
The business, set up in 2013, specialises in providing hardwoods, special timber sections, timber landscaping products and veneered sheet material. It also operates a milling facility.
Merchant P&H growth fuelled by inflation The latest figures from the
Plumbing & Heating Mer- chant Index (PHMI) report show total value sales for January 2023 through special- ist plumbing and heating mer- chants were +13.4% higher than January last year. However, much of this was down the price inflation, which was +11.6% over the same period, while volumes increased just +1.7%. With one more trading day in Janu- ary 2023, like-for-like sales were +8.0% higher than the same period a year earlier. Month-on-month January value sales were +22.3% higher than December 2022. Volume sales were signifi- cantly up (+31.9%) while prices were down (-7.2%). However, with five extra trad- ing days in January, like-for- like sales were -6.8% lower. Total value sales over the last three months, November 2022 to January 2023, were +11.7% higher than the same period a year ago.
Volume sales were -0.3% down and prices were +12.0% There was no difference in trading days.
The PHMI index for January was 108.2.
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For year ended 31 December 2022, Chiltern Timber posted revenues of £2.6m, and £0.25 million of EBITDA. Lords are paying up to £1.65 million in cash on a net cash free / debt free basis, and will fund the purchase from its existing facilities.
The Lords Group believes that there is strong growth potential and synergies achievable from Chiltern Timber operating within
the Lords business, given the ability for it to cross sell into the existing Lords customer base. Shanker Patel, Chief Executive Officer of Lords, said: “We are delighted to announce the successful acquisition of Chiltern Timber and are also really excited to welcome their ten colleagues to the Lords Group family. The acquisition is complementary to our existing Lords Builders
Merchants business and will increase our customer base, broaden our product offering and enhance our UK geographic coverage.”
MKM Building Supplies announces strong financial performance
MKM Building Supplies has announced full year results for the period ended 30th September 2022.
The merchant, which has over 100 branches across the country, saw a 24% increase in revenues to £818m, a 7.3% increase in profits to £91m, and headcount up 14% to 2523.
A further 12 branches were added during the year, nine of them greenfield branch openings, and three acquisitions. Since the start of this financial year, there have been a further six, bringing the total to 109 branches. Kate Tinsley, CEO of MKM Building Supplies, said “The 2022 results reflect another strong
performance for MKM. This was supported by a dozen new branch openings as we continued to consolidate our position as the UK’s leading independent builders’ merchant.
Strong sales resulted from ensuring sector leading product availability, as well as continued investment in staff and training. Passing our 100th store opening was a significant milestone and we now have branches from Scotland to Cornwall and
Wales to East Anglia. Despite the increased footprint, we firmly remain a local company wherever we operate and are pleased to have made meaningful contributions to the communities we serve, which is at the heart of the way MKM operates.”
TP launches bespoke service for housebuilders
Builders merchant Travis Perkins has launched its WholeHouse® platform, that means SME housebuilders can plan and design a bespoke digital model of a house before they build it. From start to finish, the process can
be completed in under an hour, saving weeks of work. Based on the BIM process, WholeHouse® has been developed by TP in partnership with architects, engineers and planners, customers and suppliers. The portal is specifically designed for housebuilders building up to 250 units a year. It means they can bring plots and developments to life through 3D visualisation in designs that can be easily adapted, personalised and
tailored depending on customer requirements.
The platform also offers scalability, so it’s just as easy for them to design one plot as it is a multi-unit development site without needing any additional resource.
In under an hour, WholeHouseⓇ can supply housebuilders with an entire set of drawing sheets, up to 200 pages of construction details and a full bill of all the items needed to build a property.
www.buildersmerchantsjournal.net April 2023
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