Alumasc sees strong growth ahead of site move

​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 ​p​roducts ​are outperform​ing​ 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.”