North-West based Wetherby Building Systems Ltd, the leading manufacturer and distributor of external wall insulation systems (EWI), is the UK’s fourth fastest growing private company, as revealed in today’s Sunday Times Profit Track 100.
The Sunday Times Profit Track 100 league table ranks Britain’s top 100 private companies with the fastest growing profits and after appearing in the table for the first time last year, ranked 96, Wetherby has shot up the table to fourth, after celebrating its best ever year. A phenomenal 12 months has seen the company’s turnover rocket from £18.4m to £61m, with profits increasing by 125% to £11.8m in 2012.
The company’s exceptional growth can be attributed to the government’s energy efficiency initiatives CESP and CERT, which were responsible for many housing associations and local authorities embracing the opportunity to refurbish their housing stock and with EWI a primary measure eligible under the scheme, the demand for EWI rocketed.
The successor to CESP and CERT, the Energy Company Obligation (ECO) scheme, launched in January 2013 also saw a flurry of activity throughout last year as large-scale housing refurbishment projects were undertaken across the UK. As a result, Wetherby has provided its solutions to some of the largest ECO projects in the country, accounting for almost half of its turnover last year.
To maximise the ECO opportunity further, Wetherby also invested heavily in a new purpose-built training facility in 2013, which brought an increase in revenue for the business. ECO brought with it a significant increase in EWI projects and Wetherby recognised a need to ensure there were sufficient skilled trades professionals to meet this demand.
Commenting on the company’s achievement, Wetherby’s Managing Director Bob Deane said: “It is such an incredible achievement for an independent company such as Wetherby to be named as the fourth fastest growing company in the UK.”
“We have always concentrated on being the best at what we do and planning ahead is key to our success. When we anticipated the rise in EWI projects, that would come under the government’s energy efficiency schemes, we invested heavily in our staff, facilities and training to ensure we were well placed to meet the demand and as such, we have reaped the rewards.”
Wetherby Building Systems Ltd is the UK’s market leader in the manufacture and distribution of a wide range of external wall insulation (EWI) systems, polymer modified renders, silicone & acrylic thin-coat renders & brick slip systems for the retrofit market. Wetherby’s insulated render systems offer environmentally sympathetic external façade solutions that have been successfully installed on many domestic refurbishment projects, new build schemes, commercial buildings and educational establishments for over 20 years.
- Wetherby’s FastTrack100 profile 2014
Sunday Times Full Press Release