February 17, 2021
Stewart Milne Timber Systems continues to develop its market-leading position in the offsite manufacturing sector after reporting significant growth with a strong current forward order book of over £200million.
The business has announced their accounts for a 16-month period from July 2018 to October 2019, following a change to its financial year end. During this period the business reported a significant growth in turnover to £120 million with an operating profit of £9 million. This growth is due to the further development of a number of significant client relationships and the associated product innovation to meet demand across the UK for offsite construction.
While the disruption caused by the pandemic will inevitably show an impact on trading in the financial year to October 2020, Stewart Milne Timber Systems continued to perform well, with monthly trading and profit recovering to pre-lockdown levels from late summer.
Rod Allan, Managing Director, said: “The demand for modern methods of construction continues to rise as the need for us to build in a more sustainable, carbon conscious way becomes ever more crucial. “Our innovation and increased capacity, combined with our focus on building high value, high growth, long term partnerships with our housebuilder customers means we are very well-placed to provide highly efficient solutions to meet the challenges. We look forward with confidence to executing the next phase of our investment plans.”