Ensor profits jump nearly 80%

ENSOR Holdings, the AIM-listed building materials group, is going to focus increasingly on supplying the security sector.

The Wythenshawe-based group announced the new strategic director as it reported strong financial results for the year to March, which showed profits surging 79% to £1.1m and sales rising from £19.3m to £22.8m.

Chairman Ken Harrison said the improved results were a tribute to the hard work of all staff operating in “difficult and uncertain” market conditions.

He said: “Individually our operating businesses are performing well. In particular,margins have been improved at our door and security product companies although there is a general feeling that confidence in our markets may be weakening.

“Our packaging and specialist building materials activities remain steady and have been assisted by good sourcing of new products through our China office.”

In line with the added focus on the security sector a business called Technocover was acquired in January. This manufactures and installs physical security products used to protect critical national infrastructure assets operated by UK and European utility companies, including water, energy and communications.

At about the same time, Ensor sold its Scottish-based doors business and and has more recently sold another subsidiary, CMS Tools to a
management buyout team.

Mr Harrison said CMS, which supplies tools to the roofing industry
has particularly suffered during the economic downturn and has been slow to emerge from recession.

“These changes give our specialist building materials businesses a security focus which, together with our packaging activities, we believe, provide a good basis for future growth.”

He said the new financial year had “started satisfactorily”, but the group is cautious about the impact of the financial crisis in Europe which could dent confidence in its key markets.