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.
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.”
