Recent financial documents reveal that Generation (UK), trading as Generation Hire & Sale, has managed to sustain strong trading levels.
Owned by the French investment company Altrad, the Oldbury-based firm has reported a notable increase in turnover, showcasing its resilience in a fluctuating market.
For the fiscal year ending 31 August 2023, Generation achieved a turnover of £145 million, an impressive rise from the previous year’s £134.4 million. This growth highlights the company’s solid performance and its ability to adapt to a challenging economic landscape.
Despite the positive turnover, pre-tax profits experienced a slight decrease, moving from £19.4 million in 2022 to £17.6 million. The dip in profits has been attributed to various factors impacting the industry, including price fluctuations, labour shortages, and product availability.
These challenges reflect the broader trends affecting the construction and scaffolding sectors, highlighting the need for businesses to stay agile and responsive to market dynamics.
The board’s statement acknowledged these conditions, noting, “Trading conditions remained strong but competitive in the year ended 31 August 2022, with price fluctuation, labour and product availability affecting the market.” However, it also conveyed optimism about the company’s post-fiscal year performance, stating, “Post-year-end trading has remained strong during the period with performance being in line with expectations.”
Generation operates a national network of branches across the UK, further cementing its status as a leading player in the scaffolding supply industry. This extensive presence enables the company to serve a wide range of clients, from local contractors to large construction projects, demonstrating its versatility and commitment to excellence.
