By Ryan Culling
Flowcrete Group, a global flooring manufacturer with headquarters in Cheshire, have, against the recession, increased profits this year by 72 per cent.
Flowcrete, whose flooring has been used in locations across the globe, including the Beijing Olympic Stadium and Dubai International Airport, have seen profits increase from £2.9 million to a pre-tax figure of £5.1 million. These figures follow a 15 percent increased sales figure from last year of £50.8 million.
Managing Director of Flowcrete, Mark Greaves, has attributed the rise in profits to expansion of the company in the Middle-East, South East Asia and South Africa, which has made up for the quieter trade in Europe and North America.
A large part of the recent success of Flowcrete is attributed to the opportunities created after the recent purchase of the business by American company RPM International. The company bought Flowcrete Group in April 2008.
Flowcrete’s Managing Director, Mark Greaves, said: “The integration of Flowcrete into the RPM Group of companies has progressed extremely well, with significant synergies being realised in raw material costs, logistics and cross sales of products to other RPM companies, which will support continued growth in Flowcrete’s sales and profits in coming years.
“Our success further enhances Flowcrete’s position in the flooring sector and gives us a distinct advantage in the marketplace. We have achieved a top rating for our industry from credit ratings agency Dun and Bradstreet, which offers reassurance to specifiers of our ability to manage large-scale projects in this challenging economic period.”
In spite of the global recession, the company’s success over the last year has also enabled the opening of offices in India and Vietnam.
Mark added: “This year has been a milestone for us and we are looking forward to more opportunities in 2010 and beyond.”