Vivalda Group plc has seen its income rise from £33.73 million to £36.77 million during 2019, despite the continued gloom surrounding the UK construction sector that saw more than 22 contractors* go out of business last year.
Commenting on the strong sales performance, Vivalda’s chairman Peter Johnson, said: “Sales have seen an increase across the UK and Ireland, and while the wider construction market has been subdued, Vivalda Group is benefitting from a trend towards higher quality products. We’re certainly seeing more specifiers and contractors turning to us for certified cladding products they can rely upon.”
Peter continued: “And with a recent estimate putting the combined turnover of construction companies going bust last year at £1.2 billion, we are also keeping a watchful eye on the fundamentals. Audited accounts will be available in the usual way; in advance I’m pleased to report that the business ended the year with a multi-million-pound net cash position, as well as an increase in tangible assets.”
“Altogether a pleasing outcome given the hat-trick the industry has found itself dealing with for far too long – Brexit, recession, and buck-passing when it comes to the replacement of dangerous cladding with Vivalda’s non-combustible range.”
The independent supplier of cladding and façade systems, which operates from 11 sites across the UK has shifted its focus to predominantly A1 and A2 certified materials such as glass reinforced concrete, natural fibre cement and solid aluminium. In August 2019, Vivalda Group acquired Cumbernauld-based MSP (Scotland), which specialises in bespoke powder coated aluminium cladding products for architects and specifiers.