Go Interiors and FGF have seen their margins increase by 25% in the group’s latest published accounts to June 2020.
Despite a 10% drop in revenue due to the pandemic, combined pre-tax profit rose by 10% to £1.8 million.
As a national drywall and insulation distributor, Go Interiors is complimented by FGF, a manufacturer of specialist facades and insulation products.
Ahead of the pandemic, the depots outperformed the market, trading at record volumes. The business also expanded in the north east with a new depot in North Shields. During the lockdown period, Go Interiors supplied the government’s Nightingale programme and other hospitals in the UK and Ireland with much needed materials. Since the reopening of its depots in May, trading recovered quickly in June, reverting back to pre-lockdown.
Following the lockdown in March, normal trading volumes resumed and Q1 has seen a healthy 20% growth.
Go Interiors director, Gerard Abbott-Drake, said: “The hard work and positive attitude shown throughout the recent period of uncertainty have been invaluable. The results are without doubt a reflection of the quality and service provided.”
The business continues to actively grow, and earlier this year, it was awarded the main distribution rights in the UK for a range of external and internal patented finishing products.
Go Interiors’ sister company FGF has also reported a profit. After acquiring the company in 2017, the Go Interiors board invested heavily over the following two years. In 2018, the business relocated its flagship branch in Birmingham and the transformation to a customer led, quality and service driven business was completed this financial year, with a change in managing director and several members of the management team.
This year, the investment continued and FGF established a new depot in the north west with improved transportation links.
Despite the impact of Covid-19 and a changing risk environment, the business improved both gross and net profitability. Like many businesses, FGF suffered a decline in turnover immediately following the coronavirus lockdown, but has since returned to normal, and with expected trading volumes, anticipates further growth.
