Turnover bolstered by contributions from Romag
Turnover surged by more than 30 percent at Clayton Glass, bolstered by the full-year contribution from Romag.
Clayton Glass bought Romag, a producer of security glazing laminates, serving the security, architectural and transport sectors, for an undisclosed sum in July 2016.
In March 2018, the company sold both Romag Ltd and Romag PPM Ltd to investment company FCFM Group.
A statement from Clayton Glass said, “In the period of ownership both businesses have benefited from some significant synergies, however we believe that the future path for both businesses would be better as solo operations.”
Newly filed accounts for the year revealed Clayton Glass’ turnover surged to 25.3 million GBP from 19 million GBP. The company said this was down to the contribution from Romag, as well as consistent growth by Clayton Glass.
During the financial year pre-tax profit at Clayton Glass also increased to 1.7 million GBP, up from 852,150 GBP.
A statement accompanying the accounts said, “Following the disposal of Romag and Romag PPM the directors anticipate that the remaining business will continue to grow in the coming years and the strategic plan supports this.
“2018 is anticipated to see growth of around 6 percent, after adjusting for the effect of the disposal.”