Buck & Hickman integration a positive for Brammer as sales and profits tumble

INDUSTRIAL parts and tool distribution group Brammer saw flat manufacturing output in Europe dent third quarter sales and earnings.

The Manchester group, which operates from some 300 locations in 15 countries, owns Coventry-based tool business Buck & Hickman which it acquired in 2011.

In an interim management statement Brammer said sales in the period since July were around £220m, down by £10m, which knocked some £3m off the trading profit.

However, the business saw an improvement in activity in October which it said could be a sign of a “modest recovery trend”. The integration of Buck & Hickman has continued ahead of plan and the group expects the benefits of the acquisition will be achieved in two years, one year ahead of schedule.

The company said: “Whilst trading conditions have been less favourable than expected, there are signs of a modest recovery in manufacturing in some important markets.

“Our strategy of focusing on key accounts, Insites [tool depots based at clients’ facilities] and cross-selling initiatives underpins our growth momentum, driving profitable market share gains for the medium and longer term.”