Another Strong Performance From The James Donaldson Group

30-07-2004

James Donaldson & Sons Ltd, one of the UK’s foremost independent timber importing and engineering companies, has released its Annual Review and Accounts for the year 2003/4.

In a year which represented both opportunity and challenge for the timber industry, (an expanding UK housing market contrasting with tough trading in timber internationally and nationally), the Donaldson Group of companies has turned in another strong performance, achieving growth in trading profit for the eighth consecutive year.

Group turnover increased by 6.2% to £44.21 million; operating profits increased by 9.6% to £2.15 million; and dividends for some 70 shareholders (25 of whom are employees) increased by over 7% to 7.5p per share.

James Donaldson’s subsidiary companies also had a successful year.

During 2003/4, Donaldson Timber Engineering, (DTE), leading manufacturers of engineered timber roof trusses and suppliers of engineered timber floors, increased turnover to £27.2 million and net profits by 10% to £1.53 million.

Over this period DTE undertook a significant expansion. Two new factories were opened, one in Ipswich and one in the Republic of Ireland - the DTE group’s first factory outwith the UK. Together these two new factories represent an investment of over £3 million and increase the total number of DTE manufacturing facilities to eight.

A further £2 million was also invested by the DTE group in the very latest generation of roof truss technology. Designed and manufactured in Australia, the machinery is a European “first” and gives DTE a manufacturing capacity of 20,000 roof trusses per week.

At James Donaldson Timber, the James Donaldson Group’s importing and sawmilling subsidiary, turnover increased from £15.2 million to £17.5 million, profitability rose by 8.5% to £560,000 and volumes of processed timber sold rose to 103,000 m3 .

Translated into layman’s terms, 103,000m3 equates to an average of fifteen forty-foot articulated lorries, loaded with processed timber, leaving the sawmill every day!

Commenting on the company’s Annual Review and Accounts, James Donaldson’s Group Chairman, Mr Neil Donaldson said:

“I am pleased at the performance of the company and its subsidiaries. Each part of the Group has increased its performance and the results are indicative of the good health of the James Donaldson Group, positioning us well for the present and for future growth.”