Published: 21st March 2009
The Epwin Group, the specialist low maintenance building materials group, has reported continuing growth in market share.
Publishing its Annual Report and Financial Statements for 2008, the company said against a backdrop of a 20 per cent contraction in window and door markets, the Group continued to perform strongly.
Turnover for 2008 was £188.5million – only four per cent down on last year – with an operating profit before goodwill of £5.7million, down from £10.2million last year.
Investment in capital expenditure of £4.7million, including product research and development, was consistent with last year. The window and door industry leader was also able to reduce net debt by £10.9million, reinforcing the Group’s already strong financial position and its reputation for prudence.
Jim Rawson, chairman, Epwin Group said: “The challenges that exist within construction are well chronicled. Clearly no business is immune from these wider economic forces, however, we have continued to perform strongly, increasing market share and consolidating our position as leader within the industry.
“Delivering a substantial reduction of Group debt by £10.9million has strengthened our financial foundation. From this platform we continue to build, maintaining capital investment at £4.7million.
“We also remain at the forefront of technical innovation within the industry leading the drive to make PVC-U more sustainable through our recycling business and re-processing plant – a unique facility in the UK.
“We are bringing a new generation of more advanced, secure, energy efficient and sustainable products to the market, something that directly benefits our customers but also the industry more widely.”
Recent innovations by Epwin Group companies include Profile 22’s expansion of its RCM (recycled composite material) range and the launch of a new cavity closer system, manufactured from 98 per cent recycled content.
Group business, Swish Building Products has also recently launched a new low maintenance, ‘low CO2’, recycled PVC rainwater system. Unveiled for the first time at ecobuild 2009 in March, the rainwater and guttering system is manufactured from 84 per cent recycled material, cutting CO2 emissions in production by 70 per cent compared to manufacture from virgin material.
Jim said: “Although we are not immune from market and wider economic challenges, as one of the largest and most stable players in the industry, we are to a degree insulated by our scale.
“We know our markets inside and out and we are at the forefront of innovation, research and development in each bringing new products to our customers, which support them in winning business now and in the future. The Epwin Group remains committed to the long term.”
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Registered in England: 7742256
Registered Office: Friars Gate, 1011 Stratford Road, Solihull, B90 4BN.
