Unimer announces outstanding results
Unimer announces outstanding results of £769 Million
(14 July 2010) United Merchants plc, UK's largest merchant co-operative and leading invoice clearing house announces outstanding results, reporting a turnover of £769 Million for year ending April 2010.
United Merchants plc (Unimer) has achieved an outstanding set of results in a trading period that has been one of the most difficult and challenging for the building materials sector. For the year ended April 2010 Unimer will be reporting a total turnover of £769 million, which reflects year on year growth of 4.2% and this was supported by an increase of 8.1% in the volume of transactions processed. Unimer has achieved that growth in a trading period when many businesses in the sector have gone backwards and have had to retrench and focus on survival.
The business growth reflects market share gains for Unimer, supported by the continuing increase in the numbers of its merchant membership and an increase in the scale and diversity of its supply base.
The higher levels of trading have also been supported by a notable reduction in the operating costs of the business. The planned programme of cost reductions established early in 2009 have all been successfully delivered and the financial performance reflect a significantly lower level of bad debts over the twelve month period. Howard Grant, Managing Director of Unimer says: "Working closely with our merchant members we have managed to proactively support good levels of trade and we have been understanding when their cash flows have been challenged over the last year."
Howard Grant, continues: "These excellent results demonstrate that Unimer's transparent approach to trading continues to add value for our merchant members and for our suppliers. The results also reflect the excellent work and commitment to developing the business, created by the whole of the Unimer team. The new financial year has started strongly and we have recently renewed our three year trading agreement with Procurement for Housing. We hope that we will be able to announce more exciting trading initiatives for our members over the next few months."
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For further information, please contact:
Suzanne Millward
Marketing Manager
Email: s.millward@unimer.co.uk
DDI: 01903 857 347
Mobile: 07872 379 714