About Heywood Williams - Operating market
North American Specialst Distribution
The LaSalle Bristol group of companies is a leading North American supplier of branded building products, especially plumbing, lighting, floor coverings and air flow systems to the manufactured housing, recreational vehicle and modular housing markets. LaSalle Bristol has industry wide sales coverage and comprehensive distribution facilities, with 19 distribution centres located across North America. It also has late stage manufacturing operations which supply air flow systems, lighting and plumbing products, predominantly to the same markets.
Key points in 2007
- Revenue was £120.5 million which was down 25.3% overall on 2006 and (17.4% decline in constant currency) and operating profit was £1.2 million which was down 77.8%.
- LaSalle Bristol outperformed its competitors in a very difficult
market. The much publicised decline in the US housing and home
improvement markets impacted the manufactured housing market which
was down 18.5%. The Recreational vehicle market reduced by 9.5%,
but still recorded its fourth best year of sales in the last 25 years.
Despite the extreme market conditions, LaSalle Bristol remained profitable and generated over 100% of earnings in cash. Debtor management remained excellent with debtor days in the range of 15-17 days. - LaSalle Bristol responded swiftly and decisively to the downturn in the market by reducing costs, at the start of the year, including headcount by 17%, improving efficiencies to successfully launch new products, including new ranges of adhesives and BBQ grill products.
- LaSalle Bristol continued to increase share with market leading customers in both the manufactured housing and recreational vehicle market by 10%. Our Air Systems business continued to grow due to increasing its market share in grills and register products, with the roll out of its Force Flow™ product range.
