International Plywood features in a listing of the UK’s top 100 businesses by profit growth.
The latest Profit Track report in The Sunday Times looks at earnings growth from 2004 to 2007 and puts Gloucester-based International Plywood at number 11 in the national league table.
According to the report, the company’s profits jumped from £687,000 three years ago to £4.39m last year, a rise of over 85%. Turnover for 2006/7 was £55.4m.
Managing director Ian Attwood put International Plywoodl’s success principally down to “five factors: the efforts of our great staff, customer relationships and logistics, logistics, logistics”.
“Our route to market is key,” he said. “If we can get savings and efficiencies here, we have a profit from the start and we’re more cost-effective and easier to trade with.”
International also attributes its profitability to the growth of business on the Continent out of its Antwerp distribution base.
“Exports to Europe are now 20% of turnover and we’re serving a very quality-conscious market there,” said Mr Attwood.
Despite the current tougher trading climate, International is confident profit growth can continue. Following its acquisition of Panel Supplies last year, and with distribution out of its Tilbury facility, it is particularly targeting expansion in the south east and sales to 2012 Olympics projects.
“An improvement in exchange rates would help, but profits this year and next won’t be far away from our recent performance and we’re budgeting sales for next year of £90m,” said Mr Attwood.
Fourth in the Profit Track listing was construction firm Robertson, which includes timber frame business Timberkit.
