Since working with the Alumasc Group back in the mid-noughties, I've kept a keen eye on their performance. This is mainly due to the fact that they cross such a broad set of marketplaces with their building product solutions.
Whilst reporting back to the city this week on their double digit sales growth, with profits doubling over the past six months, CEO Paul Hooper suggested the results, "reflect the successful six month execution of our repositioning strategy launched in 2019."
Given the breadth of the markets they serve, I see this as very positive news. We are all aware that house building has kept construction figures looking healthy(ish) over the past year, but to break these figures down:
- Alumasc Water Management division has seen a 44% increase in revenue over the previous year. Made up of a number of brands, this division serves the commercial and civils markets
- The Building Envelope division returned to a profit of 2.5%. Clearly this serves the commercial market
- The House Building division saw profits grow by 29%
From the work that I've been doing within the industry, along with various conversations held with leaders, it is clear that companies are using the pandemic as an opportunity to reassess their teams and go-to-market strategies. Granted, manufacturers and service operators may be losing staff, but they are not necessarily looking to shrink or even consolidate. New product introduction, diversity of markets and investing in new people who can catalyse these plans are moving forward at speed.
There's positive news out there ladies and gentlemen, we just have to look for it.
Alumasc is a UK-based supplier of sustainable building products, systems and solutions. Almost 80% of group sales are driven by building regulations and specifications (architects and structural engineers) because of the performance characteristics offered. Over 80% of group sales relate to one or more of the following long-term strategic growth drivers: Energy management Water management Bespoke architectural solutions Ease of construction (including off-site construction)