Non-combustible cladding focus pays off for Vivalda

Grant Prior 1 year ago Vivalda Group plc
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Facade specialist Vivalda Group plc has increased its annual turnover from £31m to £34m over the past year, despite ongoing economic uncertainty in the market.

Chairman Peter Johnson said the company's strategy is paying off
Chairman Peter Johnson said the company's strategy is paying off

Latest financial results show an increase in sales of 6% in the last 12 months as pre-tax profits jumped 13% to £2.9m.

Over that same period, the group, which includes the Pura Facades brand, has seen its net assets grow by 16% to £11m.

Vivalda now has cash reserves of £2.8m as it continues to build on its market-leading position in A1 & A2 non-combustible cladding panels.

The firm said its long-held policy of supplying only non-combustible, high grade products to high rise projects had paid-off.

Vivalda Group chairman Peter Johnson said: “Our approach of the last few years to focus on non-combustible cladding is showing strong results with good earnings growth, increased year-on-year comparatives, a solid cash position and a robust, sustainable forward order book.

“And we’re doing this at a time when the pipeline of work available has narrowed owing to landlords seeking precise solutions post-Grenfell, although it’s true to say that the flight to quality has benefitted Vivalda Group.

“Flying the flag for uncompromising cladding safety will remain Vivalda Group’s key focus for the foreseeable future.”

He said Vivalda Group’s position on new cladding regulations would be a key driver for its business, opening the door to an estimated £2bn market in refurbishment of unsafe high-rise buildings.

Johnson said: “Presently, the majority of orders continue to come from the new build market, but orders are starting to increase for our A1 and A2 rated cladding panels as replacements for inferior products scheduled for removal on hundreds of high-rises nationwide.”

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