Alumasc announces record profits despite pandemic

Alumasc, the sustainable building products firm, said it has successfully navigated the Covid-19 pandemic and achieved record profits over the last six months.
Alumasc's Timloc housebuilding products division is based in DoncasterAlumasc's Timloc housebuilding products division is based in Doncaster
Alumasc's Timloc housebuilding products division is based in Doncaster

The firm, which has a Timloc housebuilding products division based in Doncaster, said its performance in the six months to December 31 was "outstanding".

This was despite the continuing presence of Covid-19 and the uncertainty surrounding the likelihood of a trade agreement being secured with the UK's exit from the EU.

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Group revenues rose 11 per cent to £45.6m, with UK revenues 9 per cent ahead and exports (representing 13 per cent of group revenues) 23 per cent ahead.

Paul Hooper, chief executive of Alumasc, said: “The group’s substantially strong performance of an 11 per centincrease in revenues, 23 per cent increase in export sales and more than 100 per cent increase in underlying pre-tax profit during the period, reflects the successful execution of our repositioning strategy launched in 2019.

"This has been achieved by the hard work of the employees, for which I would like to thank them.

"Alongside an increasingly strong financial performance, the group has undertaken a significant number of internal initiatives to act in an environmentally sustainable manner, including sourcing 50 per cent of the group’s electricity from sustainable sources.

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"We are also in the process of setting internal metrics to monitor performance and aligning our ESG programme to TCFD and the UN Sustainability Goals. Many of our products contribute to carbon and water efficiency in the built environment and our internal initiatives contribute further to helping our customers mitigate their environmental impact."

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