The building systems division of Eleco plc, which includes Gang-Nail Systems, has reported a drop in annual profits as a result of prolonged bad weather.
Gang-Nail, which supplies engineered floors and roof truss systems, saw weak demand for connector plates from fabricators, despite the buoyant housing market.
The whole division recorded operating profits of £1.73m, 24.2% down on the previous year.
Another of Eleco’s timber engineering companies, German-based Elecobauprodukte, was badly affected in the second half by heavy price discounting by its main competitor. However, International Truss Systems produced record profits with its operations in South Africa.
Meanwhile, SpeedDeck Building Systems made progress developing the market for Vitesse (R), the high-spec bi-modular panel aimed at the prestige commercial building sector.
MBA Computing, the architectural and timber frame software provider, was bought by Eleco last year. It is working closely with Gang-Nail and Ecojoist to produce software programs incorporating features requested by fabricators.
