Beijer Ref boosted by HRP integration
Beijer Ref's net sales have been boosted by 8.5% in Q4 of 2016 due to contributions from the newly acquired UK based wholesaler HRP and by the Australian company Realcold.
The Swedish refrigeration and air conditioning wholesaling group maintains that the key to its rise in sales to SEK2, 199m (€232m) in the forth quarter was certainly influenced by a good performance in Central Europe, which in no small part was the contribution of the integration and turnaround of the previously loss making HRP.
Last years acquisition was delayed by the Competition and Markets Authority’s investigation in the UK with the integration finally being completed in the autumn.
“It is gratifying that we have reversed the development the newly acquired company in the United Kingdom. This acquisition now shows positive results,” commented CEO Per Bertland. He also commented on Beijer Ref’s overall quarter performance revealing that “November & December were especially positive” a trend he expects to continue into the new year.
A move viewed as positive is the signing in October of the Kigali agreement phasing down HFCs. “Through our broad offer of eco-friendly alternatives to HFC solutions, the decision provides good opportunities for Beijer Ref in a growing global market,” Bertland said.
He added “During the quarter, we continued to expand the range of products manufactured internally and will launch new products during 2017.” This focus on its manufacturing capabilities could be crucial to Beijer Refs continued growth.
“The operation is now increasing more rapidly than the traditional distribution operation. The OEM investment strengthens our offer in the market towards, among others, food stores. The OEM offer is important in enabling us to meet the increasing demand for eco-friendly solutions which we see in Europe and also increasingly in Australia and New Zealand.”
The company’s annual 2016 report is due to be published in March.
- International News
- European News
- UK News
- UK Companies News
Share this story