Naylor Industries has pushed sales towards the £50m mark having overcome “exceptionally challenging” markets overseas. The South Yorkshire group, which comprises two manufacturing businesses, has now set its sights on expanding.
Founded in 1890, Barnsley-headquartered Naylor Industries is the parent company to Naylor Drainage and Naylor Concrete Products.
The former manufactures and sells clay and plastic decorative pots, while the latter manufactures concrete products.
For the year 29 February, Naylor Industries reported turnover of £48.3m compared to £46.8m the previous 12 months.
Pre-tax profit was also up from £1.59m to £1.73m.
The group said the year had been one of “good progress” although trading in overseas market had proved “exceptionally challenging”, with the strength of sterling impeding international competitiveness.
Naylor added that is turnover growth was held back by lower export sales within the clay division and difficult market conditions in the methyl plastics division.
Despite this, the group increased the size of its workforce from 292 to 316 “in anticipation of future growth”.
Naylor Drainage had a strong year and launched two new division; Naylor Environmental and Naylor Polymers. The company said that while the pair had not been material to the year’s activities, they are expected to contribute towards further growth.
The subsidiary also intends to expand its range of plastic pipes and is set to invest in its Cawthorne site towards the end of the 2017 financial year.
Meanwhile, Naylor Concrete Products had a “successful year’s trading”.
Group chief executive, Edward Naylor (pictured), said: “We are pleased at this performance in a transitional year in which we invested heavily in business infrastructure, with acquisition and refurbishment of the two new freehold sites at Barugh Green and Wombwell.
“We are already seeing the rewards of moving two businesses into larger premises, with the early stages of 2016/17 seeing organic growth as well as completion of the acquisition of Whites Concrete.”
Source: Matthew Ord, Business Insider, 27 July 2016