LEAGUE TABLES Profit per head
Another table worth sharing with prospective financiers or investors. A builders merchant business may not be glamorous, or cutting edge, or sexy, but it makes money, consistently and reliably – a fact which is not lost on investors like Blackstone and Cairngorm Capital. Yes, there’s a vast difference between those at the top of the table and those at the bottom, but how many industries are there where 54 out of 57 top players are all profitable? And it’s possible that some of the people working for the companies at the top of the table are actually generating as much bottom-line profit as they are being paid.
Return on capital
One more for the investors here. Calculate the average return on capital across all 57 companies, and it’s 20.9%. Take out the top and bottom five in the list to eliminate the outliers, and the average rises to 21.9%. Go further, and take out the top and bottom 10, to isolate the middle ground – and the average return is still 20.4%. In fact 47 out of 57 companies in this list are generating ROC above 10% – and that’s at a time when, as we have already seen, there are signs of growing pressure on margins. The message to investors, as we have said so many times in the past, is a simple one: builders merchants represent a very sound investment.
Source: BMJ analysis of filed company accounts
PROFIT PER HEAD: ANOTHER WIDE SPREAD
1. PGR Timber 2. Strukta Group
3. James Hargreaves 4. C&W Berry
5. Robert Pochin 6. Crossling 7. MKM
8. Joseph Parr 9. Carver 10. Turnbull
11. MGM Timber 12. MP Moran
13. Parker Building Supplies 14. Robert Price & Sons 15. UK Plumbing Supplies 16. Lawsons
17. Myers Building Supplies 18. Beggs & Partners 19. JT Dove 20. Lords
21. Beatsons
22. Sydenhams 23. Grafton/Selco 24. Haldane Shiells 25.Wolseley UK 26. Kellaway
27. Walter Tipper 28. JT Atkinson 29. Travis Perkins 30. Huws Gray 31. Highbourne 32. James Burrell 33. Covers
34. Alsford Timber 35. Browns 36. EH Smith 37. Elliott Bros
38. Bradford & Sons 39. John Nicholls 40. Builder Depot 41. LBS
42. Boys & Boden 43. Frank Key 44.RGB
45. Grant & Stone
46. Howarth Timber Supplies 47. Williams 48. Markovitz 49. Brewer
50. National Timber Group 51. Champion Timber 52. Beesley & Fildes
53. County Building Supplies 54. Stark
BMJ LEAGUE TABLES SPONSORED BY
55. John A Stephens 56. Nicholls & Clarke 57. IBMG
58.Paintwell 10
£54,456 £36,210 £35,624 £29,629 £26,681 £25,806 £25,287 £22,907 £22,606 £22,481 £21,679 £21,387 £21,346 £21,039 £20,669 £19,599 £19,537 £19,355 £19,058 £18,555 £18,534 £17,878 £16,281 £16,021 £15,914 £15,321 £14,738 £14,556 £14,271 £14,179 £13,744 £13,031 £12,912 £11,933 £11,762 £11,608 £10,988 £10,517 £10,048 £9,873 £9,622 £9,555 £9,005 £8,976 £8,861 £8,529 £8,509 £8,414 £7,701 £7,622 £5,981 £3,561 £3146 £3,031 £991 £126
-£2,482 -£5,802
TRAILBLAZERS
RETURN ON CAPITAL: ROCK SOLID
1. Strukta Group 2. JT Atkinson 3. MKM
4. National Timber Group 5. UK Plumbing Supplies 6. Parker Building Supplies 7. Turnbull
8. Robert Pochin 9. PGR Timber 10. Grafton/Selco 11. MGM Timber
12. Myers Building Supplies 13. Williams
14. James Burrell
15. James Hargreaves 16. Stark
17. MP Moran 18. Kellaway 19. Beatsons 20. JT Dove
21. Bradford & Sons 22. Huws Gray 23. Highbourne 24. C&W Berry
25. Haldane Shiells 26. Frank Key
27. Grant & Stone 28. Browns
29. Markovitz 30. Carver
31. Howarth Timber Supplies 32. Lords
33. Lawsons
34. Sydenhams 35. Builder Depot 36.Wolseley UK 37. LBS
38. Joseph Parr 39. Crossling
40. John Nicholls 41. Alsford Timber 42. Brewer 43.RGB
44. Beggs & Partners
45.Walter Tipper
46. County Building Supplies 47. EH Smith 48. Covers
49. Elliott Bros
50. Robert Price & Sons 51. Boys & Boden
52. Champion Timber 53. Travis Perkins 54. Beesley & Fildes 55. John A Stephens 56. Nicholls & Clarke 57. Paintwell 58. IBMG
82.5% 73.7% 72.9% 72.8% 68.9% 62.4% 60.7% 45.8% 45.3% 43.8% 40.3% 37.4% 35.0% 34.8% 32.5% 31.3% 29.1% 27.8% 26.1% 25.7% 23.4% 23.2% 22.9% 22.3% 21.9% 21.7% 20.5% 20.1% 19.6% 19.4% 19.1% 18.3% 17.8% 17.5% 17.1% 16.9% 15.3% 15.3% 15.3% 14.8% 14.4% 13.7% 13.3% 13.2% 12.6% 11.6% 11.9% 11.2% 10.8% 9.8% 8.5% 8.3% 5.9% 3.8% 1.2% 0.1%
-72.6% -119.9%
A supplement to builders merchants journal April 2024
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