NEWSROUND James Burrell navigates year of Covid uncertainty
Yorkshire and North East independent builders’ merchant James Burrell has had a strong
start to 2021 following an upbeat trading performance and strengthening of its balance sheet, shown by its newly filed accounts for the year to October 2020. Despite the impact of nationally imposed restrictions during the first lockdown in spring 2020, turnover at the 144 year old business reduced by only 5% to £68m. Both operating profit and profit before tax saw similar percentage falls of 5% in the year.
Managing director Mark Richardson said: “We are delighted Mannok boosts sales and margins for 2020
Heavyside building materials supplier Mannok has posted 2020 final results that show sales holding steady despite the twin challenges of Covid-19 and Brexit.
The company posted an increase in earnings EBITDA of 17% to €31.1m for the 12 months ending 31 December 2020. Revenue remained materially consistent at €233m, demonstrating strong resilience to the impact of Covid- 19 on trading during the year. 2020 saw good sales and margin increases across Cement and Packaging, partly offset by higher raw material costs for Insulation products.
Cash generation from operating activities improved by over 44% from €21.7m to €31.3m which aided a reduction in net debt in the period of €19.4m
2020 also saw the company take on a rebrand from Quinn to Mannok, marking the culmination of a 6-year transformation and investment programme that saw sales and employment increase by 44% and 25% respectively. Liam McCaffrey, Chief Executive Officer said: “The safety and welfare of our staff and their families has been, and remains, of paramount importance through the pandemic.
“Post the initial lockdown, trading recovered strongly in the second half of the year, supported by approximately E66m of new investment over the past six years. While the business has experienced some impact on trading activities over recent months, with a number of customer projects being delayed as a result of Covid-19, underlying
with the outcome for the year. Helped by strong and clear guidance from our Health and Safety team, our workforce rose to the challenge in the face of an unprecedented situation. There was an exceptional response across our sales teams in helping new and old customers manage through a somewhat erratic supply chain environment in a Covid safe manner”.
Careful cash management under difficult trading conditions has ensured the working capital
position is more robust with a reduction in borrowings of over £1m achieved in the year. Richardson added: “Builders’ merchants are current experiencing very strong demand across their entire product range and with no apparent indications of easing off any time soon. It speaks volumes for the efforts of our purchasing and logistics team at present to source and supply materials to match current sales performance levels in the face of the supply chain challenges faced at present”
Ibstock makes plastic promise
demand has remained strong. Given our ongoing exposure to the food and construction sectors, the very positive response to our rebranding and the potential tail- wind of a vaccine-driven economic recovery, the outlook for 2021 is positive.”
Mannok comprises two key divisions, Building Products and Packaging. Its key activities are the manufacture, of cement, concrete, quarry, insulation materials and products, as well as the manufacturing of packaging products, mainly for the food industry.
RUSSELL ROOF TILES IS A BUTE FORCE
Russell Roof Tiles is reporting that Bute (thinner leading-edge tile) is one of its fastest selling products and has good lead times, despite recent reports. The lead time in the market for a standard plain tile is approximately 18-26 weeks depending on manufacturer and for Bute lead times are around 6-10 weeks depending on colour. Sales of Bute have increased year on year since it was
6
launched five years ago, and it is now the best-selling product in the south of England, having been specified on more than double the number of sites compared to 12 months ago. Bute is particularly popular across Oxfordshire, Berkshire, Wiltshire, Hampshire, Surrey, Sussex and West Sussex for developers for both private and social housing, of all sizes.
James Pendleton, Regional Sales Director of Russell Roof Tiles says: “Sales of thinner leading-edge tiles continue to grow year on year. Bute is made using around 15% less raw materials than a standard flat interlocking tile. This also means they’re a “greener” choice being delivered to site in fewer batches and results in less packaging to landfill.”
www.buildersmerchantsjournal.net May 2021
Ibstock plc, the leading manufacturer of clay bricks and concrete products in the UK, has reiterated its pledge to reducing plastic use by 40% by 2025. To help meet its target of
reducing its use of preventable plastic packaging, Ibstock is seeking to remove at least 200 tonnes of plastic shrink wrap from across the Group by the end of 2021 - the equivalent of 8.3 million soft drinks bottles. Under the stewardship of its Plastic Taskforce, the group has introduced a number of initiatives. Following successful trials to reduce shrink wrap thickness by up to 30%, the programme has been rolled out across the Group’s manufacturing sites, which has had a significant impact on plastic consumption.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48
