Record sales in 2021 for Epwin
Low maintenance building products group Epwin enjoyed growth in both sales and profits in 2021.
Epwin, which supplies the repair, maintenance and improvement, new build and social housing sectors, saw revenue improve from £241 million in 2020 to a record £329.6m with pre-tax profit up from £1.9m to £12.9m
Sales were 37 per cent ahead of 2020 and 17 per cent ahead of 2019
During the year construction was completed on its new Telford distribution and finishing facility. Full relocation of inventories to the new facility is to be completed this year.
Epwin also bought three well-established regional independent distributors of plastic building products and added 13 trade counters in Cumbria, Northumberland, Southern Scotland, Lancashire and Norfolk.
Aluminium window system and PVC decking sales continue to see strong growth, with demand levels for these products well ahead of management's expectations.
Current trading is in line with the board's expectations, with 2022 revenue to date ahead of 2021.
Chief executive Jon Bednall said: "I am pleased to report that our trading performance for the year as a whole was strong, despite the well-reported supply chain and inflationary pressures that presented a particular challenge to our fenestration businesses. This is testament to the hard work of our people in a year which has seen many challenges for businesses and individuals.
"We are optimistic for the group's trading prospects in 2022 and expect to make further gains in market share, whilst continuing to manage the challenges that the current environment presents. We remain confident in the strength of the medium and long-term drivers of our markets."
