A1 Flue Systems has reported turnover of £1m and has created five new jobs in the second half of 2016 as it enjoys what it describes as a ‘Brexit boost’.
A number of contract wins and the fall in the value of the pound since the UK voted to leave the European Union last summer have led to the increase, the company says.
Contract wins include projects for an airport, a football stadium and a couple of university campus buildings, as well as many offices, hotels and supermarkets nationwide. The figure doesn’t include an export deal that A1 has just secured for a skyscraper project in downtown Dubai close to the site of the Burj Khalifa – the tallest building in the world at 830m high.
As the company manufactures everything at its factory in Nottinghamshire, it has not been hit by the same 20% overnight price hikes that UK competitors have faced because they import flues from Europe.
A1 Flues campaigned to leave the EU ahead of the UK referendum last June because the company was keen to see the reestablishment of the UK manufacturing prowess across the world and director TJ Duncan-Moir said that trading figures since the vote bear out the company’s optimism.
She said: “Our business is benefitting from a Brexit boost, and the last six months have arguably been the best period in our 40-year history. We’re well known for high-profile projects such as The Shard and the redevelopment of the iconic Battersea Power Station in London, which we’re currently involved in, but it’s actually the increase in the amount of bread and butter contracts for hotels, schools, office blocks and public buildings that is really propelling our business forward.”
She continued: “The drop in the value of the pound has been one factor, but we also know that UK contractors and construction companies are telling us that we are seen as a safe pair of hands in the current climate.”
The company, which won a number of manufacturing excellence awards in 2016, is predicting the trend to continue in 2017, boosted by its export drive and an increase in offering added-value services, such as the maintenance of commercial flue and chimney systems.
Fellow director John Hamnett added: “We see real scope to significantly increase the revenue we can generate through subsidiary companies such as Commercial Flue Cleaning & Maintenance (CFCM) Ltd and also through the flue systems we are exporting to regions such as the United Arab Emirates (UAE) because the relationships we have been building since we set up a dedicated exporting capability a couple of years ago are really starting to come to fruition.”
Pictured above T-J Duncan-Moir and John Hamnett