Know what you want? Try our 'Supplier Directory' 

BSS group welcomes 4% revenue rise

Specialist trades distributor the BSS Group has seen revenue up by 4% according to the company's preliminary results for the year ended March 31, 2009.
The group's revenue has increased to £1,340.6 million, up from £1,289 million the previous year.

Operating profit was up by £2.7 million to £68.1 million, before amortisation of intangibles and exceptional charges. Profit before tax is £57.8m (2008: £58.3m) and the group has reduced net debt by 18% to £86.0m (2008: £104.3m).

As well as the good news, the firm reported that 300 people have been made redundant across the group, since January 2009.

Gavin Slark, group chief executive, said: 'The results reflect the group's resilience with earnings and revenue holding up well despite a contracting economy and continuing uncertainty. The challenges have increased as the year has progressed but we have adapted well: scaling down the business where appropriate, identifying new growth opportunities and picking up new revenue streams in adjacent markets'.

The company made market share gains for both domestic and industrial divisions and said its focus on repair and maintenance market continues to underpin trading resilence.

Thirty new branches have opened and the industrial division is diversifying into new markets.

The group bought Direct Heating Spares in April 2009, to capitalise on the growing parts market.

Slark added:'The new financial year will be no easier. We are focused on winning new business and growing market share in more challenging trading conditions'.
1 June 2009

Comments

Already Registered?
Login
Not Yet Registered?
Register

European heat pump sales slump prompts call for long term policy certainty

Recent data released by the European Heat Pump Association (EHPA) on heat pump sales in 14 European countries shows an overall fall of around 5% in 2023 compared to 2022 figures. This reverses the trend of previous years, where combined sales ...

  29-Feb-2024

New metallic finish boosts towel rail design credibility

Indoor climate solutions provider, Zehnder Group UK, has unveiled new metallic finishes for its already-popular Zehnder Alban towel rail....

  29-Feb-2024

STOKVIS R600

CONDENSING ULTRA LOW NOx PREMIX COMMERCIAL BOILER
  10-Jan-2019
Heating & Ventilating Review is the number one magazine in the HVAR industry. Don’t miss out, subscribe today!
Subcribe to HVR

Diary

HVR Awards 2024