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Offsite Solutions Releases Strong Results for Last Financial Year
Offsite Solutions, the UK’s leading bathroom pod manufacturer, has announced a 73 per cent increase in pre-tax profits on a turnover of £33.3m, according to its accounts for 2019 which have just been released.
These results have put Offsite Solutions in a stronger position to minimise the impact of the current pandemic. All its bathroom pod factories remained open throughout the Coronavirus lockdowns this year, operating with Covid-secure processes and procedures in place and at reduced levels as a number of construction projects were delayed. However, by maintaining production, all pod deliveries were made to the dates required for every customer which is a major achievement.
Enquiries remain at a high level and have grown month-on-month throughout the pandemic. The quote bank is now valued at a record £325m. £26m of new orders have been received with a number of projects already in manufacture for 2021.
Commenting on the financial performance and the business outlook, James Stephens, Managing Director of Offsite Solutions, said, “More contractors and developers are now recognising that it is much easier to meet social distancing requirements in a carefully controlled factory environment than on a building site, particularly for work in such confined spaces such as bathrooms.”
“The outlook remains positive for our business, despite the economic uncertainties and challenges around Brexit and Coronavirus. We anticipate a significant increase in turnover from the end of the second quarter of 2021. We have a strong financial base and high levels of repeat business from both contractors and developers, which exceed 80 per cent and this has definitely helped us minimise the impact of the pandemic.”
“We continue to innovate and develop new types of bathroom pods, such as our enhanced GRP pods which are generating significant interest in the build-to-rent market. In the past year we have maintained considerable activity in the student accommodation and build-to-rent sectors. We are also receiving more enquiries for bathroom pods for hotels and senior living projects. This is a very positive platform for our strategic growth.”
“We remain extremely proud of our teams across the business and this year more than ever. They have consistently risen to the challenges we have faced to help us mitigate the impact of the pandemic on our business and our customers, and have found new ways to do what is needed and with such a positive attitude.”
In 2019, the number of pods manufactured by Offsite Solutions grew to more than 9,400. Last year also saw the acquisition of Taylor and Kilduff, a steel fabrication business. This brought the manufacture of base frames for steel-framed pods inhouse and gave Offsite Solutions security of supply for these products, as well as an increased skillset to help meet the growth strategy for the business.
Offsite Solutions offers the UK’s largest range of pods to suit many different building types and applications. Options include steel-framed bathroom pods with porcelain-tiled finishes for high-end apartments, PRS, student residences and hotels; robust and low maintenance GRP composite shower pods for student accommodation, build-to-rent, care homes, social housing, and healthcare; hybrid pods for specialist projects, and award-winning demountable GRP pods for ease of installation in refurbishment schemes.
Offsite Solutions has also developed steel-framed utility pods for apartments or studios for build-to-rent or build-to-sell developments.