Chairman Hamish Bryce is introducing a three point plan at Heywood Williams Group (Waverley, Edgerton Road, Huddersfield, GB-West Yorkshire HD3 3AR) in order to provide a sharper business focus and improve the low rating of its share position. At the same time, the UK´s leading manufacturer of PVC windows and doors will return capital to shareholders. The restructuring programme will: dispose of all the group´s activities in the US; sell-off all peripheral businesses in the UK and Europe; develop a dedicated e-commerce business unit.

The businesses being sold in the US – Bristolpipe, La Salle Bristol and Creation Group – had a combined turnover of GBP 195.6m in the first half of 2000, following what Hamish Bryce termed as exceptional growth in the pipe business. However, there was a decline in turnover for manufactured housing. US operating profits increased to GBP 13.8m compared with GBP 11.7m the previous year, spurred by improved margins from the pipe activities.

Performance in the UK and Europe was less good. Operating profits fell from GBP 9.9m to GBP 7.5m, principally, says Bryce, because of the 70% increase in the price of PVC. Turnover had increased from GBP 136.0m to GBP 149.6m. Sales prices now reflect most of the PVC increase and further benefit to the financial performance is expected in the second six months.

Hamish Bryce says the restructuring programme will concentrate on the leading positions of the group in the UK window and door market. He warns, however, that market signs are not encouraging and he does not expect the group to achieve the same profitability as in 1999. Then it reported pre-tax profits of GBP 45.7m, on a turnover of GBP 662.4m, and earnings per share of 35.1p.