£600k was spent on the redevelopment of Jewson’s Largs
branch to improve stock availability and carbon footprint
20,000 new homes to be built next to
transport hubs in London in the next 10 years
Stelrad heats up with 15% growth
Stelrad Group plc, the specialist radiator manufacturer, saw group revenue rise 15% to c£312m for the twelve months ended 31 December 2022, according to a trading update. The figures include the benefit of the acquisition of the Italian firm DL Radiators from August 2022, meaning revenue growth was 3% on a like-for-like basis. Expected adjusted operating profit will be around c£34m.
The benefits of a successful focus on margin management and operational improvements
The integration of DL Radiators, continues to progress; a new production line is currently being commissioned in the Italian facility with two further refurbished lines fully operational in the Turkish factory during 2022. Rising energy costs across
has more than offset the impact of a decrease in volumes during the period, resulting in a strong increase in contribution per radiator.
Europe and the drive towards decarbonisation are both expected to underpin further, long-term demand for the Group’s products. Trevor Harvey, Chief Executive of Stelrad, says: “Despite well- publicised macroeconomic headwinds in our end markets,
Travis Perkins makes leadership changes
Builders merchant group Travis Perkins has announced a number of changes to its senior leadership team.
Kieran Griffin, currently managing director of Travis Perkins General Merchant, is leaving the group after 28 years to explore new opportunities. He being replaced by James Mackenzie, who has led the Toolstation UK business over the last six years. Mackenzie’s vacant seat at Toolstation is being taken by Angela Rushforth. Nick Roberts, CEO of Travis Perkins plc said, “I am delighted to confirm these appointments from our experienced management team and the opportunity this brings to drive further
more than double the turnover of the business. He was previously commercial and digital director of Screwfix, and has also been general
collaboration and innovation opportunities across the Group. I am really looking forward to working with James and Angela in their new roles and extend our thanks to Kieran for the contribution he has made over many years in the Group.” Mackenzie has led the strategy to accelerate the development of Toolstation, enhancing its digital offer and branch network to
manager – Kingfisher Asia and director of trading at B&Q. Rushforth has led BSS over the past four years, overseeing the development of TF Solutions and its technical service proposition including the creation of Design to Use. Her previous experience includes time as managing director of Benchmarx and Ridgeons and several years as marketing director at Screwfix and Wolseley.
Sales growth driven by inflation
The latest Builders Merchant Building Index (BMBI) report reveals that builders’ merchants’ value sales were up +1.4% in November 2022 compared to the same month in 2021. This was inflation-led growth as volume sales tumbled -13.6% while prices climbed +17.3%.
Nine of the twelve categories sold more in November compared to the previous year. Renewables & Water Saving (+37.9%) was the standout category, while Plumbing, Heating & Electrical (+17.5%), Workwear & Safetywear (+16.6%), Decorating (+15.3%) and Kitchens &
Bathrooms (+14.8%) also did relatively well. Timber & Joinery Products (-12.0%) was the weakest category.
Compared to November 2019, total merchant value sales were +29.8% higher. Volume sales fell -4.1% while prices were up +35.3%. With one extra trading day this year, like-for-like sales were +23.9% higher. All twelve categories sold more with four outperforming Merchants overall: Renewables & Water Saving (+58.1%), Landscaping (+39.7%), Timber & Joinery Products (+33.2%) and Heavy Building Materials (+31.1%).
February 2023
www.buildersmerchantsjournal.net
£55bn
profits reported by oil companies Shell & BP combined
the Group performed broadly in line with its expectations in 2022, a testament to the resilience of our business model and market position, the robustness of our strategy and the dedication of our team. We have more than offset a decline in volumes with proactive margin management initiatives while the acquisition of DL Radiators offers considerable potential for the future by extending our range of heat emitters and providing access to new markets and channels. We remain committed to our strategic objectives of growing market share, improving product mix, optimising routes to market, and positioning the business for decarbonisation.”
Elliotts offers Real Living Wage to all
Elliotts Builders Merchants has increased the salaries of its 330 employees by £2,000 from the begining of this year, ensuring that no one working in the business above apprentice level, will earn less than the ‘Real Living Wage’, a rate set by the Living Wage Foundation, who are an independent organisation that campaigns for fair pay for workers.
This rate of pay surpasses the government set ‘National Living Wage’, and is calculated based on the cost of living in the UK and updated annually.
Although the financial forecast for the construction industry in 2023 is looking somewhat unpromising, Elliotts remains steadfast in its commitment to its core values of looking after and supporting its team and focussing on the long term.
Tom Elliott, Elliotts Builders Merchants CEO, said: “Achieving a minimum pay grade that mirrors the Real Living Wage is a conscious and voluntary decision, which strategically bolsters the many staff benefits we have implemented. We don’t focus just on the here and now at Elliotts, we focus on the long term and in doing what’s right for our staff.”
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