World of opportunities
Wagners reveals major growth potential in international markets
TOOWOOMBA company Wagners Holding Company has signalled strong growth for its products in the United States and Europe as part of a positive half-yearly profit report.
CEO Cameron Coleman handed down the announcement yesterday morning, revealing the company enjoyed revenue of $125 million for the first half of the current financial year, more than three per cent above the prior corresponding period.
Wagners also reported a proforma net profit of $9 million, while earnings before interest and tax was in line with guidance it had given.
Mr Coleman said the company had seen strong growth in its composite fibre technology facility at Wellcamp, particularly for its electrical cross-arm products.
“We are pleased with the half-year results given the delays in some large infrastructure projects that we had hoped would commence and deliver revenue to the business during the period,” he said in the release.
“We’ve experienced growth in overall sales, particularly in cement and transport and the business is now realising the benefits of the growing international acceptance of our new generation building materials.”
Mr Coleman told The Chronicle the potential for growth in North America and Europe was particularly exciting, especially since the company had recruited a sales team to sell its products in the United States.
“It does relate to a new sales force we’ve established in the US and the UK,” he said during the phone conference.
“The growth in the US is extremely exciting.”
Wagners sent over its first order to the United States last year in the form of a boardwalk for the city of Ocala in Florida.
The company had also flagged building its own manufacturing facility for CFT products in the United States, but no location has been announced.
The company’s earthfriendly concrete was expected to be approved for use in Europe this year.