LEAGUE TABLES
STOCKTURN GROWTH: RETURNING TO NORMALITY
1. Beatsons 2. Lords
3. Markovitz 4. Paintwell 5. Williams 6. Crossling
7. Stark/Saint Gobain 8. Frank Key 9. Kent Blaxill 10. Brewer 11. CRS
12. John A Stephens
13. National Timber Group 14. J T Dove
15. JT Atkinson
16. Bradford & Sons 17. Haldane Shiells 18. Covers
19. Lawsons 20. James Hargreaves
21. Parker Building Supplies 22. Robert Pochin 23. AW Champion
24. Beggs & Partners 25. Nicholls & Clarke 26. Highbourne 27. Boys & Boden 28. Walter Tipper 29. John Nicholls 30. Huws Gray 31. Wolseley UK 32. James Burrell 33. Sydenhams 34. LBS
35. Browns 36. Turnbull
37. Travis Perkins 38. Carver
39. Builder Depot
40. Grafton Merchanting GB 41. Beesley & Fildes
42. UK Plumbing Supplies 43. Alsford Timber
44. Robert Price & Sons 45. EH Smith 46. Elliott Bros 47. Joseph Parr
48. Myers Building Supplies 49. Howarth Timber Supplies 50. Kellaway 51. MKM
52. C&W Berry 53. MP Moran 54. RGB
55. MGM Timber 56. AW Lumb 57. IBMG
58. Grant & Stone
37.0%% 29.0% 28.2% 22.9% 18.7% 16.3% 13.1% 9.2% 7.9% 7.6% 6.9% 4.3% 3.6% 3.3% 1.8% 1.5% 0.0% 0.0% -0.0% -0.7% -2.5% -4.0% -4.1% -5.0% -5.2% -6.0% -7.0% -7.0% -7.2% -8.0% -9.1% -9.9% -11.1% -11.7% -13.0% -13.2% -13.8% -13.8% -15.6% -15.6% -16.4% -17.1% -17.6% -17.6% -17.8% -19.2% -20.4% -22.4% -23.2% -23.6% -23.7% -24.9% -28.7% n/a n/a n/a n/a n/a
GROSS MARGIN: MERCHANTS ARE MAKING MORE MONEY
1. AW Champion 2. Sydenhams
3. Nicholls & Clarke 4. Alsford Timber 5. MP Moran 6. Huws Gray 7. Covers
8. Lawsons 9. Frank Key 10. LBS
11. Paintwell 12. Beatsons
13. Walter Tipper 14. Kent Blaxill 15. RGB
16. Boys & Boden 17. Grant & Stone
18. Robert Price & Sons 19. Builder Depot 20. John A Stephens 21. Bradford & Sons 22. IBMG
23. Haldane Shiells 24. JT Atkinson
25. Howarth Timber Supplies 26. National Timber Group 27. CRS
28. J T Dove 29. Joseph Parr
30. Myers Building Supplies 31. Beggs & Partners 32. James Hargreaves 33. Travis Perkins 34. MKM
35. John Nicholls 36. Turnbull
37. Parker Building Supplies 38. Crossling 39. Carver
40. MGM Timber
41. Grafton Merchanting GB 42. UK Plumbing Supplies 43. Wolseley UK 44. Williams 45. EH Smith 46. Markovitz 47. Highbourne 48. Kellaway
49. Beesley & Fildes 50. Elliott Bros
51. James Burrell 52. Robert Pochin 53. Lords
54. C&W Berry
55. Stark/Saint Gobain 56. Browns
57. AW Lumb 58. Brewer
46.5% 43.3% 41.8% 40.9% 38.1% 38.0% 37.9% 37.8% 37.7% 35.7% 35.0% 34.8% 34.0% 33.6% 32.8% 32.7% 32.5% 32.4% 32.4% 32.0% 32.0% 31.8% 31.5% 31.3% 31.1% 31.0% 31.0% 30.6% 30.5% 30.4% 29.7% 28.8% 28.5% 28.5% 28.1% 28.0% 27.7% 27.1% 27.0% 26.8% 26.6% 25.4% 24.7% 24.6% 24.3% 23.7% 23.3% 22.9% 22.3% 20.1% 19.9% 19.3% 17.3% 16.4% 16.1% 14.6% 12.5% 9.4%
April 2023 A supplement to builders merchants journal
TRAILBLAZERS
Stockturn Growth
One the face of it, this isn’t a very encouraging table; it shows that only 16 of the 56 companies listed managed to improve their stockturn during 2021. But it also shows the difference between the chaos of 2020 – when many companies ended the year with an artificially high stockturn through simply not having enough stock – and 2021, when the stock supply situation gradually returned to something closer to normality. And, of course, price inflation has an impact on stockturn figures as well.
Gross Margin
As always, there’s a handful of companies in this table whose gross margin figures seem impossibly low. That’s because there’s no law that says you have to confine the ‘cost of sales’ line in the accounts to the cost of goods for resale alone. Brewer, AW Lumb, Browns etc obviously included other sales-related costs. Applying BMJ’s policy of removing the top and bottom outliers from the table, we arrive at an indicated industry average gross margin for 2023 of 29.4%. In 2020, analysing pre-pandemic figures, the comparable average was 28.3%. In short, the margin trend is extremely encouraging.
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