Newport-based Premier Forest Group Ltd has posted another successive year of record growth as the independent timber group marks its 25th anniversary and announces its first CEO.
The financial year ending April 2018 saw sales revenue grow by £10 million to a turnover of £126 million, with pre-tax profits more than doubling to over £9 million. The group, which is principally engaged in the importation, distribution, merchanting, sawmilling and wholesale processing of timber and timber products, is on course to achieve a targeted £200 million turnover within the next three to four years.
The record growth comes as it is announced that co-founder and director Terry Edgell is to take on the role of group CEO.
Non-executive Chairman John Antoniazzi said: “As one of the three founding shareholders of the Premier Forest Group, Terry has been instrumental in the company’s growth and development. It is appropriate that as the Group embarks on its next phase of growth that the board recognises his increasing leadership role and ability to drive the company’s strategic ambitions.”
The year has seen significant growth for Premier Forest Group including two site relocations and the appointment of two new directors.
Clarks Wood in Bristol relocated to South Wales to pool resources and expand its service offering with parent company Premier Forest Products in Newport Docks, while Premier Goldberg moved to a new 53,000 square foot site in Langley near Heathrow, allowing it to take advantage of the vast opportunities that the south east of England has to offer.
“The projections for the current financial year are indicating another record year being achieved,” said Terry Edgell, CEO of Premier Forest Group. “We have achieved significant organic growth thanks to the extensive range of timber and timber products we sell across the group and our customer-focussed sales attitude. For the year ahead, we also intend to grow further by acquisition, with several strategically important companies already targeted, and there will be continued capital investment in all divisions.