Trellidor revenue up 67% on blinds

Security barrier manufacturer Trellidor bolstered its revenue 67.6% in the year to June to R525m, following the acquisition of Taylor Blinds.

Trellidor distributes its products via a franchise network across SA, Africa and the UK.

Taylor manufactures and distributes custom-made blinds, decorative and security shutters and cornicing or skirting products. Taylor has a strong presence in the Western and Southern Cape.

The overall group profit after tax for the year grew 22%, to R66m and earnings per share climbed 17%, to 59.3c per share.

Diluted core headline earnings per share grew 27%, to 66.0c per share.

The group’s gross profit margin of 47.7% was in line with expectations and consistent with the interim results.

Operating expenses as a ratio to revenue increased to 29.5%, from 28.1% at the end of June 2016, mainly due to acquisitionrelated expenses of R10.1m.

Foreign-exchange losses of R3.0m for the year to June 2017 compared with a R2.3m gain for the year to June 2016 also negatively affected Trellidor’s operating margin.

A new security shutter product launched during the year was well received by the market, said CEO Terry Dennison.

“The acquisition of Taylor has provided a platform for growth into a new market segment and a diversification of the group’s revenue streams.”