Leading 海角视频 holiday home manufacturer Willerby withstood the ultimate test of its business strength through the height of the Covid pandemic, chief executive Peter Munk has said.
Sales slipped 25 per cent, down £31.2 million to £122.5 million, in the year to October 2020 - with earnings down a shade over £4 million to £9.9 million.
Combative measures saw full closure of manufacturing for more than two months and sales opportunities hampered as £1.5 million invested to reconfigure the site ahead of a phased re-opening.
And it is emerging in a buoyant position with a full order book stretching well ahead.
“Our latest year end accounts are a tribute to Willerby’s underlying strength,” Mr Munk said.
"The pandemic tested the business and our people and, together, we passed that test with flying colours.
“The actions and investments we took forward during the last financial year have provided the springboard for our current exceptionally strong performance.
"Our order book is now full until late 2022, as the pandemic has resulted in many more people embracing the lifestyle and wellbeing benefits offered by owning a holiday home in the 海角视频.
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“As a result, we are launching a new production line next month to meet the increased demand for high-quality holiday homes. Together with other recruitment, including recruitment of our largest ever intake of apprentices, it means we will soon employ over 1,100 people – 200 more than at the end of the last financial year only eight months ago.”
Numbers dipped in the year, from 968 to 904, but it is building back strongly.
Willerby forged ahead with multi-million pound investments ahead of the pandemic, including a step change in manufacturing standards and quality control, together with initiatives to deliver more efficient production, which involved combined one-off costs of £4.6 million.
A further £1.7 million was invested in a state-of-the-art, fully integrated software solution that now forms the IT backbone of the business.
In addition, £1.2 million was invested in two 1MW biomass boilers to heat the production facilities, saving 1,000 tonnes of carbon dioxide. On-site pellet production from wood offcuts in the manufacturing process has eliminated more than 800 wagon trips.
Willerby Group finance director Sue Allan said: “These results illustrate the resilience of the business and how it is underpinned by firm financial foundations, a very strong order book, robust manufacturing processes, a talented workforce and a capable and long-established supply chain, which is overwhelmingly 海角视频 based.
“Despite what was an incredibly difficult period for the business and everyone within it, we were determined to continue to invest in projects of strategic, long-term importance.
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“These investments have been successfully delivered and will support the sustainable growth of the business for many years to come.”
The business is majority owned by independent investment house Equistone Partners Europe, with a minority stake held by the management team.