Naylor’s turnover increased 12% to £77.9m in the 12 months to 28th February 2023, helped by organic growth and an acquisition.
During the year, the company restructured its clayware business and exited commodity clay pipe markets in the face of soaring energy costs.
It also completed the acquisition of Burnley-based Tuffpipes, a manufacturer of PVC ducting, in May 2022. The Tuffpipes business has now been relocated into a new purpose-built 4,000 sq m production hall on Naylor’s Cawthorne site in Barnsley.
Naylor invested £6.1m in plant and premises, including new plastic extrusion equipment and a new chiller system at Cawthorne. Despite the disruption associated with restructuring the clay business and commissioning new equipment, profitability progressed, with underlying profit before tax reaching £5.6m (2022: £4.1m).
Edward Naylor, chief executive of the fourth-generation family business, said: “The year has been challenging, with volatile energy markets and input cost inflation but we have been pleased to see the impact of recent capital investment in increased productivity and capacity. Our key markets remain rather unsettled, and in terms of growth, the emphasis for the year ahead is on new product development – we have some exciting new products to launch – as well as on bolt-on acquisitions which enhance our offering.”