Profits have surged at a surface coatings business famous for its “Does exactly what it says on the tin” advertising slogan, as sales closed in on the £100m mark.
Sherwin-Wiliams Diversified Brands, which trades as Ronseal in the UK, made a pre-tax profit of £7.1m in the year to 31 December 2015, up from £3.9m in the previous year.
The company, which principally supplies woodcare and waterprooﬁng products to the trade and DIY markets, increased turnover by 45.2 per cent to £95m.
New products and market share growth alongside the addition of the trade of Geocel Ltd and Purdy, a fellow subsidiary and branch respectively of Sherwin-Williams, helped drive the performance.
Continued new product development in an increasingly competitive market was backed to maintain activity levels into the current year.
Paul Barrow, former executive president of the Sheffield-headquartered European operation of Sherwin-Wiliams Diversified Brands, which trades as Ronseal, retired last month (March) after 28 years with the business.
Ronseal, a major force in woodcare and waterproofing markets, was acquired by Sherwin-Williams in 1997 as part of its acquisition of the Thompson Minwax Holding Corp.
The Ronseal slogan was created by Liz Whiston and Dave Shelton at advertising agency HHCL and was first used in a 1994 TV advertising campaign. The phrase, a registered trademark of Sherwin-Williams, has now entered the popular consciousness.