October 21 2014 Latest news:
Ben Woods, Business editor
Wednesday, August 20, 2014
Norwich-based Anglian Home Improvements is eyeing a strong performance next year after a resurgence in the housing market helped bolster orders.
The EDP Top100 company said swelling consumer confidence and a growing number of people spending money on their homes had increased orders to £82.7m – a £13.6m boost on last year.
The forecast comes as turnover rose 9.8pc to £229m, according to the accounts ending March 29 2014.
Meanwhile, pre-tax profits climbed £3.3m to £10.7m as cash rose to £13m compared to £6.2m the year before.
Phil Tweedie, Anglian group financial director, said: “With the UK economy more stable in 2013/14 we did see consumer confidence begin to improve and this certainly supported our improved results in the 2013/14 financial year.
“We operate in a competitive market and our brand reputation is very important to us. We took market share in this period and we believe this is due to a combination of developing a much stronger internet presence along with Anglian’s heritage of almost 50 years in the home improvement industry.”
Accompanying its latest figures, the company wrote: “Levels of consumer confidence continue to improve and there is now a greater level of activity in the housing market.
“These trends will undoubtedly benefit the group over the coming years which together with the increasing importance of the green agenda should put the group in a strong position provided there are no major external shocks to the economy.”
One of East Anglia’s largest crane hire companies, Quinto Crane & Plant Ltd, has been bought out in a multi-million pound deal, with the new owner promising to safeguard the jobs for its 125 employees and guaranteeing future investment.