Britain's biggest double glazing firm has warned that Brexit is starting to hit its trade, with householders holding off from buying new windows or doors.
Anglian Home Improvements, which owns Anglian Windows, said: ‘In the short term the UK’s decision to leave the EU and the results of the recent General Election will create a degree of uncertainty in the economy and indications of reduced consumer spending are being seen.
‘This is likely to impact order levels in the coming year,’ the firm said in its annual report.
Turnover in the year to April was £237 million, up from £214 million the year before, due to an increase in orders. However, it made a pre-tax loss of £3.3 million.
Chief financial officer Nick Roberts told The Mail on Sunday consumer confidence is ‘one of the key drivers of the level of sales in the short term’.
He said: ‘Unfortunately, as with many other industries, we have very recently seen signs of reduced consumer spending as home owners wait to see the impact of a number of wider economic drivers before committing.’
Anglian’s rivals have encountered problems too. Safestyle has issued a string of profit warnings this year, causing the shares to dive more than 40 per cent.
And private equity baron Jon Moulton, who runs Better Capital, has admitted his investment in Everest Windows has ‘not done well’.
‘This is likely to impact order levels in the coming year,’ the firm said in its annual report.
Turnover in the year to April was £237 million, up from £214 million the year before, due to an increase in orders. However, it made a pre-tax loss of £3.3 million.
Chief financial officer Nick Roberts told The Mail on Sunday consumer confidence is ‘one of the key drivers of the level of sales in the short term’.
He said: ‘Unfortunately, as with many other industries, we have very recently seen signs of reduced consumer spending as home owners wait to see the impact of a number of wider economic drivers before committing.’
Anglian’s rivals have encountered problems too. Safestyle has issued a string of profit warnings this year, causing the shares to dive more than 40 per cent.
And private equity baron Jon Moulton, who runs Better Capital, has admitted his investment in Everest Windows has ‘not done well’.
Source: This is Money
Anglian Home Improvements, which owns Anglian Windows, said: ‘In the short term the UK’s decision to leave the EU and the results of the recent General Election will create a degree of uncertainty in the economy and indications of reduced consumer spending are being seen.
‘This is likely to impact order levels in the coming year,’ the firm said in its annual report.
Turnover in the year to April was £237 million, up from £214 million the year before, due to an increase in orders. However, it made a pre-tax loss of £3.3 million.
Chief financial officer Nick Roberts told The Mail on Sunday consumer confidence is ‘one of the key drivers of the level of sales in the short term’.
He said: ‘Unfortunately, as with many other industries, we have very recently seen signs of reduced consumer spending as home owners wait to see the impact of a number of wider economic drivers before committing.’
Anglian’s rivals have encountered problems too. Safestyle has issued a string of profit warnings this year, causing the shares to dive more than 40 per cent.
And private equity baron Jon Moulton, who runs Better Capital, has admitted his investment in Everest Windows has ‘not done well’.
‘This is likely to impact order levels in the coming year,’ the firm said in its annual report.
Turnover in the year to April was £237 million, up from £214 million the year before, due to an increase in orders. However, it made a pre-tax loss of £3.3 million.
Chief financial officer Nick Roberts told The Mail on Sunday consumer confidence is ‘one of the key drivers of the level of sales in the short term’.
He said: ‘Unfortunately, as with many other industries, we have very recently seen signs of reduced consumer spending as home owners wait to see the impact of a number of wider economic drivers before committing.’
Anglian’s rivals have encountered problems too. Safestyle has issued a string of profit warnings this year, causing the shares to dive more than 40 per cent.
And private equity baron Jon Moulton, who runs Better Capital, has admitted his investment in Everest Windows has ‘not done well’.
Source: This is Money
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