A1 Flues’ £1m ‘Brexit boost’
A1 Flue Systems is enjoying what it’s calling a ‘Brexit boost’ after seeing a £1m hike in turnover and five jobs created in the second half of 2016.
The Ollerton-based company – which designs, manufactures and installs commercial and industrial chimneys – is putting the increase down to a raft of ‘bread and butter’ contract wins and the drop in the value of the pound since the UK voted to leave the European Union last summer.
Contract wins include projects for an airport, a football stadium and a couple of university campus buildings, as well as a whole host of offices, hotels and supermarkets across the UK. The figure doesn’t include an export deal that A1 has just secured for a skyscraper project in downtown Dubai close to the site of the Burj Khalifa – the tallest building in the world at 830m high.
A1 says that because it manufactures everything at its factory in Nottinghamshire, it has not been hit by the same 20% overnight price hikes that all of its UK competitors have faced because they import the lion’s share of their flues from Europe.
Bosses at A1 Flues campaigned to leave the EU ahead of the UK referendum last June. Director TJ Duncan-Moir said that trading figures since the vote bear out the company’s optimism.
“Our business is benefitting from a Brexit boost, and the last six months have arguably been the best period in our 40-year history,” she said.
“We’re well known for high-profile projects such as The Shard and the redevelopment of the iconic Battersea Power Station in London, which we’re currently involved in, but it’s actually the increase in the amount of bread and butter contracts for hotels, schools, office blocks and public buildings that is really propelling our business forward.
“The drop in the value of the pound has been one factor, but we also know that UK contractors and construction companies are telling us that we are seen as a safe pair of hands in the current climate.”
Over the last three months, the company has also employed five new staff to boost its manufacturing, engineering and sales capabilities.
Fellow Director John Hamnett added: “We see real scope to significantly increase the revenue we can generate through subsidiary companies such as Commercial Flue Cleaning & Maintenance (CFCM) Ltd and also through the flue systems we are exporting to regions such as the United Arab Emirates (UAE) because the relationships we have been building since we set up a dedicated exporting capability a couple of years ago are really starting to coming to fruition.
“Whilst some businesses see the storm clouds gathering, we only see the clear skies of opportunity ahead because we’re the leading UK company in our sector, which puts us in a position of strength moving forward.”
