28 七月, 16:37
The Timbmet Group has reported an operating profit of GBP 378,000 ($497,106), compared with GBP 328,000 last year ($431,351).
UK Managing Director, Nigel Cox, reports “The underlying sales trend for the UK business was positive, showing an increase of 4.3%. We have continued to win new customers throughout the year due to our excellent service proposition and wide product base. However, as a result of continuing market pressures, the gross profit percentage fell slightly from 23.8% to 23.5%.”
“We have continued to invest in our stock ranges and in our warehouse and distribution infrastructure. We have added to the number of front line operational and sales staff, giving our customers the advice and support that they demand.”
Chief Executive, Paul Rivers, noted “We continue to see the benefits from the group’s return to stability and profitability in recent years. During the year we acquired the freehold of our main warehouse facility at Shellingford from our parent company. And, just after the year end, we renegotiated new bank facilities with Lloyds Bank which gives us the certainty and flexibility we need to continue to invest in and grow our business.”
Founded in 1942, Timbmet is one of the UK’s leading suppliers of Timber and Panel products.