PRESS RELEASE - 24TH MAY 2005 |
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FITZROY CHAIRMAN PREDICTS SECOND YEAR OF RECORD PROFITS |
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Nick St Aubyn, Chairman of The Fitzroy Group, today predicted that results for the year ending in July 2005 would be even better than in 2004, with another net profit before tax of nearly £1 million, on turnover of more than £20 million. |
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“Since we acquired Timber Tailors, in February 2004, our shop fitting division has undergone a radical transformation”, Mr St Aubyn added. “We have just completed a £3 million contract with Bovis Lend Lease, Timber Tailors’ largest ever, at the Trafford Centre. |
“The diverse nature of our retail client base – clothing, pharmacies, discount stores, garden centres, DIY, multiples and department stores – places us in a strong position to cope with fluctuating retail trends this year.” |
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The Fitzroy Windows division is currently completing a £800,000 residential and commercial contract in Birmingham, for Tailor Woodrow. Meanwhile, Fitzroy Technology has recently launched the Chipmaster, a money saving oil filter for the fried food industry. It is already supplying some major customers, including Macdonalds. |
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Looking ahead, Mr St Aubyn said that the Group expected to enjoy strong growth in two areas, aluminium clad timber windows and shelving system solutions. This should help the Group to achieve a further 20% growth in sales over the next twelve months, bringing an overall improvement in net profit margin. |
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This month Fitzroy Timber Tailors has completed a 60,000 sq ft project – the new store fit-out at the Trafford Centre for Bovis Lend Lease – on behalf of the John Lewis Partnership |
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