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"Despite the increases in raw material costs that occurred during 2011, Finsa UK Ltd has managed to maintain the profitability at the same level of 2010," said Rafael Willisch, Finsa UK managing director.
Finsa UK Ltd, the Liverpool-based import and distribution operation of Spanish panel products producer Finsa, has reported a 9% growth in turnover for 2011.
"Despite the increases in raw material costs that occurred during 2011, Finsa UK Ltd has managed to maintain the profitability at the same level of 2010," said Rafael Willisch, Finsa UK managing director.
He said 2011 trading had been satisfactory against a difficult economic background.
The company also reported its lowest level of bad debts for four years - 2011 bad debts represented less than 0.06% of turnover.
It said the turnover growth was boosted in the current climate by its ability to offer a wide range of products, including value-added panels for specific solutions.
Finsa's lightweight range of products all showed "healthy increases in sales for various applications", with FinLight, GreenPanel and Iberpan 400 all performing strongly.
"Our Superpan board has been particularly successful, " added Mr Willisch.
Superpan comprises two external MDF faces and a core of chipboard.
Copyright World Market Intelligence (Progressive Media) Jan 21-Jan 28, 2012