Record month for building products firm Alumasc

Grant Prior 5 years ago
Share

Alumasc has reported a strong recovery post lockdown with July a record month for the building envelope and water management products business.

The impact of the pandemic saw pre-tax profits for the year to June 30 2020 drop to £2.7m from £3.9m last time as turnover reduced to £76m from £90.1m.

Chief Executive Paul Hooper said: “The Group responded quickly to the Covid-19 outbreak to protect the business, its employees and all our stakeholders.

“The result of this swift action led to the Group reporting a strong recovery from June onwards, with July 2020 being a record performance for the month and August 2020 performance also being very strong at both revenue and profits level.

“Management remains appropriately cautious given the limited visibility as to how the wider economic situation will evolve but is cautiously confident in its ability to deliver operationally in the uncertain macroeconomic climate.”

Alumasc was already restructuring and in the middle of a cost reduction programme saving £2.4m when the pandemic hit.

Chairman John McCall said: “Managing the unpredicted and unpredictable effects of the Covid-19 pandemic has required a combination of very short term – daily almost – assessment of market conditions, up and down, with a firm eye on longer term and, hopefully, more permanent goals.

“While some things will undoubtedly change for ever, greater investment in many of the projects targeted by Alumasc – schools, hospitals, prisons, infrastructure – is seen both as part of the solution to the “problem” and as meriting much greater emphasis in their own right.

“This can only encourage the Board to believe that the changes of recent years have been right for Alumasc and will position it well in coming years.”

Latest news

Planning Bill to have “seismic” impact on construction

Building-boosting reforms go before Parliament
14 hours ago

Man Utd confirm plan for £2bn ‘super-tent’ stadium

Club to press ahead with 100,000-seat 'Wembley of the North'
18 hours ago

Government spending keeps profits edging-up at Kier

91% of work now with public sector and regulated companies
21 hours ago

Costain on track for step change to 5% margin

Alex Vaughan says order book has jumped £1.5bn to £5.4bn
20 hours ago

Mace tops February contracts league

Confirmation of £300m London Victoria Street project lifts firm to pole position
20 hours ago

Wates raids Laing O’Rourke for new construction operations chief

George Mosey leaves Laing O'Rourke after 16 years
1 day ago

Travis Perkins CEO Pete Redfern steps down due to ill health

Redfern joined builders' merchant last year after 14 years at Taylor Wimpey
2 days ago

Morgan Sindall wins £61m Liverpool lab scheme

Construction to start this Autumn on latest Knowledge Quarter project
20 hours ago

Glencar to build timber-framed office block

Work to start next month on 79,200 sq ft scheme in Maidenhead
2 days ago

Shed specialist Marbank files administration notice

£67m turnover portal-framed building specialist files court notice
2 days ago

Birmingham council submits £1bn Druids Heath plan

High rise estate to be replaced by-3,500 home eco village
2 days ago

Cannabis farm gang posed as utilities contractor

Gang jailed for 28 years after diverting power to more than 100 cannabis farms
4 days ago

Firm fined after workers climb scaffold without ladder

HSE investigation prompted by death on Liverpool site
2 days ago

Clancy renews £250m Southern Water deal

Contractor vows to maximise value for money and minimise disruption
2 days ago

McLaren go-ahead for 314 flats Watford scheme

Police station and magistrates court to be demolished
2 days ago

Former Liverpool mayor charged in building contracts probe

Construction bosses also charged as part of Operation Aloft
5 days ago

Bidding to start for £700m Irish sea interconnector work

Work includes converter stations at Hunterston and Kilroot near Belfast
5 days ago

Muse to redevelop Durham County Hall HQ site

Morgan Sindall regen specialist seals another major development deal
5 days ago

Mace to transform Imperial College Great Hall

Work to start next month on ambitious refit
5 days ago

£100m plan to regenerate former Digbeth ironworks

Hartwell unveils 260,000 sq ft office and 240 homs plan
5 days ago

Legendre UK wins £21m London homes job for Clarion

Tower Hamlets building to be replaced due to building and fire safety issues
5 days ago

Construction buyers report fastest downturn since 2020

Double whammy of decreasing new orders and delayed projects
6 days ago

Bidders day for £15bn schools alliance framework

Online event to set out details of DfE alliancing framework procurement plan
6 days ago

MPs told safety regulator delays forcing industry job cuts

Industry chief warns housing select committee that BSR is now a main block on meeting housing targets
6 days ago

£600m delivery partner named for new hospital programme

Mace/T&T JV named programme delivery partner for £37bn new hospital plan
6 days ago

£230m Southampton waterfront scheme approved

Town Quay includes trio of 25 storey towers around new marina
6 days ago

Planning green light for £10bn Northumberland data centre

Blackstone-backed project will create 1,200 construction jobs
7 days ago

Bauhaus block above Southwark Station gets green light

Student accommodation and affordable housing scheme replaces original office plan
6 days ago

Police arrest plant hire fraud gang

Nine arrests after kit hired "with no intent of ever returning the machines"
7 days ago

Balfour Beatty boss Leo Quinn to step down

Group Chief Executive to be replaced by consultant AtkinsRéalis chief Philip Hoare
7 days ago

Contractor services