Alumasc, the Kettering-based sustainable building products supplier, has hailed a “strong performance” for the year ended 30 June 2024.
The business saw revenue grow by 13% to £100.7m, up from £89.1m in the year prior.
Meanwhile, the firm recorded underlying pre-tax profit of £13m, growing by 16.1% from £11.2m last year and ahead of recently upgraded expectations.
Looking ahead, Alumasc noted it has a clear line of sight of its growth plans, capacity to invest, and opportunity to deliver significant shareholder value.
The firm shared: “While demand headwinds in Alumasc’s commercial markets are likely to persist for the remainder of 2024, we are encouraged by early indicators of easing in planning, improving consumer confidence and the interest rate outlook which suggests an improved trading outlook in due course.
“With the positive trading momentum Alumasc has carried into the new financial year, and the improving economic environment, the Board is optimistic for another year of growth.”
Commenting on the results, Paul Hooper, Chief Executive, said: “We are extremely pleased to report a further upgrade to our 2024 profit, with underlying profit before tax of £13.0m, 16% ahead of the prior year.
“All three divisions saw organic revenue and strong profit growth, a result of continued delivery on our strategic priorities and Alumasc’s position as a market leader in the provision of sustainable products, which provide efficient solutions to the challenges presented by our changing climate.
“Sustainability is at the core of what the construction industry needs to do to address climate change and the Group is well placed to benefit from these long-term growth drivers. This environmental focus, together with an effective commercial strategy, has enabled us to continue to outperform the wider UK construction market.
“Since we completed the strategic acquisition of ARP Group and welcomed our new colleagues, the business has performed extremely well, bringing exciting synergies and opportunities for cross-selling to the business.
“Alumasc’s performance against the backdrop of challenging markets during 2024 shows the business’s quality and as we progress into 2025 we have a clear line of sight of our ambitious growth plans, capacity to invest and opportunity to deliver significant shareholder value.”
