A timber business has increased sales past £140m on the back of a rise in sales as well as an acquisition as it looks to build towards sales of £200m.
Premier Forest Group, which is headquartered in Newport, operates from 15 sites across the UK and Ireland.
In the year to April 2019, the company increased sales by £15m to £141m, aided by the acquisition of Merlwood Timber in Haverfordwest.
As well as the acquisition, the company also relocated one of its Irish brands, Dublin Plywood and Veneer, to a new and larger state-of-the-art distribution centre west of Dublin in January 2019.
Pre-tax profit, dropped from £9m to £5m, although profit from trading activities rose by £1.8m as about half of the previous year’s total was capital gain on property disposal.
Premier Forest Group chief executive and co-founder Terry Edgell said: “We are naturally delighted with this set of results amid a backdrop of the political uncertainty.
“Despite that ongoing uncertainty, we are still targeting a further £10m-£15m of organic revenue growth in the new financial year.
“This will be a direct result of the group’s strong infrastructure, extensive stock range, efficient distribution model, and its customer-focused sales attitude.
“The outlook of the company continues to be one of optimism and ambitious growth.”