CMS Window Systems reports record year with profits up by one third
Queen’s Award for Enterprise winning company CMS Window Systems has reported considerable growth in its profitability, with EBITDA (earnings before interest, taxes, depreciation and amortisation) in the year to March up by more than one third, boosted by record turnover topping £36 million.
In its latest financial period, the Cumbernauld-based business, which employs more than 250 people in the design, manufacture and installation of PVC and aluminium windows, doors and curtain walling for residential, public sector and commercial buildings, has increased EBITDA by 34.64% from just over £3m in 2016 to almost £4.1m.
According to chief executive officer, David Ritchie, these latest results show a business in very good health.
David said: “On the back of an excellent year in 2016/17, the business has gone from strength to strength, delivering another fantastic set of results for this latest period which show the business meeting all our strategic and financial targets.
“And the future is looking extremely positive too, with a record order book valued at £65m over the next three years providing job security and excellent opportunities for our local and national supply chain partners. This includes our largest ever single contract valued at £10m to manufacture and supply windows, doors and curtain walling for the prestigious Atlantic Square development in Glasgow.
“We’re delighted with these latest results which reflect the remarkable effort and dedication of the whole team as well as a successful business strategy based around environmental, social and economic sustainability.
“With a solid operating platform already in place, we have invested heavily during the last year in our PVC factory capabilities at our Castlecary base near Cumbernauld, to enhance production capacity in preparation for the next phase of planned growth. This is continuing into 2018/19 too, with a new door factory in Fife already opened during quarter one and plans to invest in our aluminium factory capacity as well as a new trade manufacturing facility.”
Operating from its 15-acre main manufacturing and recycling facility and HQ at Castlecary near Cumbernauld, together with its new door manufacturing and recycling plant in Kirkcaldy, CMS Window Systems continues to be one of Scotland’s fastest growing manufacturing businesses. The company has been backed by mid-market private equity investor LDC since May 2016, when it secured a significant minority investment to further support the business’ expansion across Scotland and England.