Construction slows in January with major projects thin on the ground
The UK construction sector is fighting a number of headwinds as January figures revealed new contracts were 10.6% lower than last year, at £5.4 billion. Barbour ABI’s Economic & Construction Market Review, which measures construction contract values awarded across the UK, largely blamed a lack of major projects on the fall. Residential housing and infrastructure dominated […]
NORMA smashes past €1 billion sales for first time
NORMA’s annual sales surpassed the one billion euro mark for the first time last year. Seeing significant growth, the group saw sales rise 13.7% to €1,017.1 million (2016: €894.9 m). NORMA attributed the rise to the good overall economic situation and the high demand for reliable joining technology in important end markets – cars, commercial […]
BUFAB overcomes raw material price increases with net sales and profit growth
Order, net sales and profits all grew for Bufab in 2017 across the full year and in Q4. Q4 Q4 2017 saw net sales rise up to SEK 828 million (18%) – 14% of which was organic. Kian Soon Mechanical Components was acquired in the same quarter. Order intake grew 16%, outstripping net sales, while operating […]
Fastenal yearly sales rocket to $4.39 billion
Minnesota-headquartered Fastenal saw double digit sales and pre-tax earnings growth for the year ended 31 Dec 2017. The wholesale distributor of industrial and construction supplies saw net sales increase 14.8% in the quarter (up $140.5 million) thanks to high unit sales via Fastenal’s industrial vending and Onsite locations. Fastener products represented 35% of sales in […]
Growth in US, Europe & Asia for Bossard as sales grow 13%
Bossard Group enjoyed sales growth and set new records in all market regions last year. Sales in fiscal year 2017 rose 13.1% to CHF 786.2 million, fuelled by double-digit growth rates in all Europe, America and Asia. In Europe, Q4 sals grew 16.1% (57% of revenue). In America, the Group’s existing business contributed to the […]
Electrocomponents hits £1 billion annual digital revenues
Electrocomponents plc, the global distributor for engineers, has achieved the significant milestone of £1 billion of annual digital revenues, making it amongst the largest UK online businesses in the industrial space. Electrocomponents trades as RS Components and Allied Electronics and reached the landmark amount as a result of continuous investment in digital innovation. In recent years, the company […]
Cordless power tool launches boost Makita growth in Europe, US & Japan
Makita’s sales grew in the first six months of its financial year (ending 31 March 2018) with growth at home and abroad. Consolidated net sales increased 15.4% from the previous year to 230,951 million yen (there was depreciation of the yen compared with the same period the previous year). Income before taxes increased 15.8% to 39,456 […]
Power tool market will be worth $35.5 billion by 2023
Between 2017 and 2023, the global power tool market will grow 4.6% (CAGR) to reach US$35.58 billion, according to a new report from Research and Markets. Drivers of the market include renovation outstripping the rate of construction, increasing sales of commercial vehicles and rising demand for cordless tools. However, high maintenance costs associated with power tools […]
Selco owner Grafton hits £2.3 billion revenue so far in 2017
Selco owner Grafton reported revenue growth in the first nine months of 2017, up 9.1% to £2.3 billion (2016: £2.11 billion, like-for-like). In constant currency terms, Group revenue increased 6.9% in the nine month period ending 31 October 2017. The UK Merchanting arm of the business, including perhaps Grafton’s best known brand, Selco, grew 5% and benefited from […]
Bufab sees “strong demand” in Q3 & opens Mexico subsidiary
Bufab saw growth in net sales, orders, market share and operating profit in Q3, but operating margin slipped slightly during the quarter. Bufab reported growth of 10% in net sales to SEK 735 million (668), with organic growth at 6%, in Q3 2017. The quarter also saw strong order intake, up 13% and higher than […]