Business growth expected to continue into the new decade at Kilwaughter Minerals
A Larne firm is anticipating further growth in the agriculture and construction sectors after commencing building work on a £2m business support unit.
The investment at the Larne headquarters was revealed as Kilwaughter Holdings Limited (the parent company of Kilwaughter Minerals Limited) announced a consolidated group turnover of £40.4m for the 12 months to April 30, 2019 - a 20% increase from the previous year.
This, the company said, reflected the recent acquisition of Alumasc Facades, an external wall insulation (EWI) system business, in November 2018. The pre-tax profit increased by 4% to £8.0m in the same period.
In a statement, Kilwaughter added: “The Alumasc Facades business has been successfully integrated and now forms a new
business segment, K Systems, which sits alongside the other two established business brands, K Rend and Kilwaughter Lime.”
The company, which now exmploys over 200 people, says it has also invested in its UK distribution centres including at St Helens, Liverpool, to improve service for customers throughout England and Wales and support the development of the EWI business.
“Kilwaughter have also commenced build of a £2m business support unit at its headquarters in Larne, a further investment to underpin its potential for future growth in its primary markets for agriculture and construction in Ireland and the UK.”
Embracing change continues with the appointment of Gary Wilmot as chief executive officer at Kilwaughter Minerals Limited in 2019.
Mr Wilmot said: “The UK government have pledged to reduce carbon emissions in the UK and a related priority will be insulating difficult to heat homes. In addition, new housing stock in the UK will receive a government boost with a target of building 300,000 units per year.
“Kilwaughter are well positioned to continue their focus on quality and innovation and deliver growth through serving these opportunities.”