IronmongeryDirect profits double in 2010
IronmongeryDirect, the UK’s largest multi-channel supplier of ironmongery products to the trade, has announced today its 2010 year end results which saw profits double to £1millionIronmongeryDirect, the UK’s largest multi-channel supplier of ironmongery products to the trade, has announced today its 2010 year end results which saw profits double to £1million*.
This is a significant gain given the tough economic conditions that the UK construction industry has struggled with over the past year.
With turnover increased to £12.5 million, up an impressive 25% on the previous year, Managing Director of IronmongeryDirect, Wayne Lysaght-Mason, comments on how the business has succeeded in such turbulent times for the trade; “This is an immense result for the company. We attribute much of our success to our continued dedication to customer service excellence. This past year has been difficult for the industry and for some merchants, but offering flexibility, technical expertise and a reliable next day delivery service we feel has answered what our market needs, and has kept customers returning.
“We have succeeded in our sixth year of consecutive growth, with plans on track for turnover of £50million in just 4 years time.”
The award winning customer service offering could also explain why over 30,000 new tradesman have used IronmongeryDirect for the first time in 2010. This has been achieved by significant investment in customer response systems and continued development of technically expert teams.
Online turnover grew considerably to £4.3m, an increase of 40% on 2009. This key achievement shows how the company is also leading its sector in the internet age. This success is underpinned by IronmongeryDirect's passion for knowing its customers and delivering what the customer wants:
convenience, choice and service.
Growth is not only being seen in the Company’s results: further expansion is planned in 2011 with a move to bigger premises. The new building allows scope to increase the business further. Wayne Lysaght-Mason adds; “We are continuing to expand and invest in the business, product offering and our staff. We’ve already started laying the groundwork; a new product management team was employed in 2010 with the sole mission of sourcing even more high quality products. We will also be committing considerable resources to develop software systems to enable our excellent customer service team further and by listening to feedback from our customers to evolve our service offering in line with their needs.”
IronmongeryDirect won the ECMOD Outstanding Customer Service Award 2010. The ECMOD Awards categories are designed to reflect multi-channel, catalogue producing and online retailing organisations serving business or consumer customers. IronmongeryDirect also received well-deserved recognition as the overall winner in recent Business Excellence awards, and a separate award for Best Growing Business.