Member Article

Brighter times ahead for fittings producer

Lancashire fitments manufacturer J and J Ormerod expects better market conditions in the coming year after reporting increased profits.

The company, which employs 320 staff at its headquarters in Bacup, Lancashire, produces kitchens, bathrooms and bedrooms.

Revenue for the year to the end of February reveal the firm’s profits grew £1.3m to £1.4m with turnover flat at £35m, while pre-tax levels also rose from £1.3m to £1.4m.

The privately-owned company was founded over a hundred years ago is reported to be ‘pleased’ with the overal perfoemance in challenging market conditions.

Managing director Stephen Greenhalgh said: “It was a steady year and better than the previous one. We’re confident for the coming year, market conditions are improving and we’ve got a bit of investment coming into the business.

“We’ll be adding a new drilling system costing £1.2m to our furniture production line which should increase capacity and speed by 20 per cent. It is our belief that the year to February 2014 will see a return to growth in the construction sector to mirror the housing market which is already showing positive signs.

“These factors, together with the strong balance sheet and market situation of the business make the directors increasingly confident for the coming year.”

This was posted in Bdaily's Members' News section by Simon Malia .