Borders-based Oregon Timber Frame has announced the appointment of a new non-executive director after revealing a stable set of annual results.
The company, which makes timber systems for housebuilders, kept profits broadly steady at around £1.9 million, despite raw material costs rising due to sterling’s post-Brexit vote collapse. But it warned that margins would be further hit in its current financial year as costs increase.
Turnover for the year to 31st December 2016 at £21.7m was up 7% on the record turnover in 2015.
Joint managing director, Kenny Dunkley, said: “The company has increased its order book and has also expanded its client base during the current year. Housing demand remains positive but resources on site are increasingly scarce. This is an industry-wide issue and in order to help address this, we have been the first company in the UK to recruit and train timber frame erector apprentices in conjunction with CITB and South Lanarkshire College. There are currently 7 apprentices out of a total workforce of 138.”
Meanwhile Neil Fitzsimmons has joined the company to help Board develop its growth strategy, particularly in England, and to provide a high-level appreciation of its housing developer customers and the market they operate in.
Neil was formerly CEO of Avant plc, where he carried out a major restructuring, and before that was CEO of Redrow plc. He is a non-executive director of the Home Builders Federation.
Source: Scottish Construction Now!
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