Premier Forest Group boosts turnover by £31m and almost doubles profits during coronavirus pandemic

27 May 2021


Leading UK timber products importer and distributor Premier Forest Group is celebrating its most successful year to date, despite unprecedented challenges brought by the pandemic.

Newport-based Premier has posted a £31m growth in turnover to £170M over 12 months, in spite of constraints imposed by nationwide lockdowns, operating restrictions at their sites in UK and Ireland and significant supply chain disruption.

As well as the growth in turnover, combined EBITDA profit for the two halves of the Premier Group came in at £16m, up £7m on the group’s previous best year.

“If you had told me a year ago that this is the position we’d be in now, I would have been overwhelmed,” said Terry Edgell, Premier CEO and co-founder.

“There were some worrying times early in the first lockdown and we had no idea what to expect. However, we were determined to dig deep and our staff at all levels worked harder than ever before to ensure that the company not only survived, but thrived in these unprecedented times.

"Key milestones of the period include the strategic refinancing of the company’s Irish freehold properties, providing a reassuring buffer to working capital and the supply of significant volumes of timber product to many emergency NHS field hospitals in the UK and Ireland."

Earlier this year, Premier Forest Group entered a strategic capital demerger into two groups, clearly separating the activities of the Irish companies from those in the UK; both continue operating under the ownership of Premier Forest Group’s founders Terry Edgell, Dilwyn Howells and Nigel Williams.

Mr Edgell said prospects for the coming 12 months looked even more exciting and the company had started the new trading year with its biggest order file to date.

“We have a robust strategic plan in place, combining significant growth in the UK, further capital investment and a new, well-resourced focus on digital and e-commerce. We will continue to explore opportunities for acquisitive growth but also expect to experience double digit growth based on demand and product inflation, both in Ireland and the UK.”

Premier Forest Group company chairman John Antoniazzi is retiring. John joined the company in 2013 and in his time with the business has seen growth soar and overseen seven significant strategic acquisitions.

Premier has operations covering importation, sawmilling, processing, merchanting, and wholesale distribution of timber and timber products from its 16 sites in the UK and Ireland.

Premier Forest Group’s company directors. L-R: Terry Edgell, Nigel Williams and Dilwyn Howells