A leading hardware supplier has reported a record period of trading in the first quarter of its new financial year.
International friction stay manufacturer Cotswold Architectural Products is up fourteen per cent compared to same time last year, in what represents the company’s best start to a year since it’s MBO in 2005.
The Gloucester based company has been in business for over thirty seven years and its financial year runs from May to April.
If sales remain at this level for the remainder of the year, it could end up being one of Cotswold’s best ever years in business.
Iain Morgan, who is firm’s MD, comments: “Normally the July and August period is significantly slower for us, compared to the rest of the year, but not so at the moment.
Demand for our range of specialist friction stays, both heavy duty and standard has been very strong. It’s a staggering start, when you consider the still shaky economic backdrop.
On what is behind the positive figures, Iain comments: “There isn’t a single factor that is contributing to this positive trading period.
“We haven’t received one huge order or brought on lots of new customers – and we’ve still faced the same seasonal challenges, such as holiday shut downs during August and large customers reducing stock holding for the half year.
“However, many existing customers seem to be buying more and export markets are also holding up well for us.
“On the former I would hesitantly say that the industry may be turning a corner, there has certainly been a noticeable upturn amongst certain of our customers.”
Cotswold’s encouraging start to its new financial year coincides with a rare bit of recent good news for the UK economy.
In the second quarter of 2013 the Office for National Statistics (ONS) reported that the UK economy grew by 0.6 per cent, with the construction industry itself experiencing a sharp rise of 0.9% compared with the first quarter of 2013 when output was at its lowest level since 2001.
Cotswold has been in business for over thirty seven years and is recognised as the world’s number one specialist friction stay manufacturer.
In the UK it works with some of the biggest names such as Polyframe, Kawneer, Safestyle and Metal Technology; and regularly creates bespoke friction stays for their customers and also regularly launches new products.
Most recently Cotswold brought a new heavy duty friction stay to market. Called Validus +, it is the biggest stay on the market.
The heavy duty top-hung friction stay is 32” long, and capable of supporting a window up to the size of 250kg in weight and 2.5 meters high without the requirement of additional support arms.; making it ideal for large commercial aluminium windows, triple glazing, curtain walling and specialist facades. This unique product has been independently tested and approved.