Company of Connect Yorkshire EIR Edward Naylor saw turnover dip during a “transitional” year in which it completed an investment programme worth £14.8m.
Naylor Industries, a construction materials manufacturer, reports that for the year-ended February 28 2018, turnover stood at £50.1m, down from £51.3m during the previous period. The company generated an operating profit before exceptional items of £1.8m compared to the previous year’s £3.4m.
The financial year, the firm disposed of non-core business, Hyde-based materials processor Naylor Polymers.
During the investment programme, Naylor Industries built a £5m big pipe factory, relocated two group businesses to newly purchased and modernised freehold sites at Barugh Green and Wombwell and acquired White’s, a precast concrete business.
Chief executive Edward Naylor said: “Following a long sequence of years of record-breaking turnover, we recognised the need to increase capacity and initiated a transformational capital investment programme.
“Not surprisingly, this development work led to a pause in turnover growth in 2017-18, although we managed to maintain sales at close to the previous year’s levels.
“With our three-year capital investment programme concluded and a number of innovative new environmental products brought to market, we are excited about the short and medium-term prospects of the business.
“After a weather-related slow start to 2018-19, we have seen an encouraging pick-up in sales across all our businesses and we believe we have laid the foundations for a period of significant growth and increased profitability.”
The new factory at Cawthorne allows Naylor to manufacture larger diameter pipes to carry big volumes of surface water, helping protect Britain against flooding from extreme weather.