BSS Group have announced their audited preliminary results for the 12 months to March 31 2008. And, say the group, they have seen ‘strong growth in revenue, profit and cash flow driven by resilient RMI market and market share gains’.
Over the year, revenue increased 27.4% to £1,289.0m (2007: £1,012.1m) while pre-tax profit rose to £58.3m an £11m (23.3%) increase on 2007.
Thirty-four new branches were opened in the period as well as a national distribution centre for Big Pipe. Plus, of course, the group acquired Buck & Hickman and Birchwood Products.
Group ceo Gavin Slark said of the results: “These record results reflect the considerable progress made by the group. We have continued to grow revenue, profitability and market share, with strong cash performance.
“The repair and maintenance market remains resilient and the Group has positioned itself to ensure it is well placed to service growth streams within that market. Our success in gaining market share is underpinned by keeping close to our customers and
anticipating market needs. We continue to see growth opportunities.
“Major project work is holding up well, many of our customers have full programmes of work that run for a number of years. The industrial business continues to benefit from its strong strategic position as a national distributor.
The outlook remains positive despite a more uncertain economic environment