Sustainable building products firm Alumasc reported a jump in profit and revenue and unveiled plans to beef up its housebuilding products division in anticipation of a move to a new site in Goole.
The group said a decision to focus on building products rather than engineering products is paying off.
The firm is particularly strong in water and energy management, ensuring that buildings meet strict new criteria to reduce carbon emissions.
Chief executive Paul Hooper said: “Customers are demanding more sustainable products, partly because of legislation. Housebuilders have to get closer to carbon neutral buildings.”
This is driving the expansion of the group’s housebuilding operations where two sites in Goole will be moved onto a bigger site near the M62.
“We are introducing a major new product range,” said Mr Hooper.
The group supplies housebuilders with ventilation products, injection moulding, air bricks, loft access doors and access panels. Its building products are outperforming the UK construction market by three per cent a year.
The group reported a 10 per cent increase in revenue to £98m and a 16 per cent rise in underlying pre-tax profit to £8.4m.
Analyst David Buxton at FinnCap said: “Full-year results were better than our forecasts, helped by a strong trading performance in the second half. The group has now refocused on higher-growth, more profitable areas and also has fire-power for acquisitions.”
Analysts at Peel Hunt said: “2015 was something of a transitionary year for the group, with the disposals of APC and Pendock helping to tighten the focus of the group on building products.”