PHD Industrial Holdings reports 11% revenue growth despite economic challenges

PHD Industrial Holdings, the North West based industrial group, has announced an 11% increase in revenue for the financial year ending 30 September 2023, despite the challenging economy.

The PHD Industrial Holdings Team at their office in Daresbury

The PHD Industrial Holdings Team at their office in Daresbury

The group, which operates six main trading businesses and follows the corporate compounder model, has achieved sales of over £63 million and expects to see a similar uplift in profit before tax once its year-end accounts are finalised early in 2024. PHD invests in mature and profitable SMEs in traditional industrial sectors and works with management to support their growth.

Andy Dodd, Director at PHD Industrial Holdings, attributed the success to the strong leadership and resilience of the management teams across the Group. He said: “Despite the increasingly difficult trading conditions in the UK and globally our management teams have demonstrated both their experience and strength of character in keeping their businesses moving forward. This is against the back drop of the economy adjusting to higher inflation and interest rates.

“We have a solid foundation for future growth and will continue to pursue our strategy of organic and acquisitive expansion in our core markets.”

The Group employs over 350 people in businesses including Wigan-based sealants and adhesives specialist Hylomar; Lancashire hardware specialist Olympic Fixings; Goole-based chemical manufacturer Technikraft; Wiltshire based castors wheels and materials handling equipment manufacturer BIL Group; and Auto Marine Cables and First Class Holidays, both based in Manchester.

Andy Dodd said the results also demonstrated the benefits of the corporate compounder model compared to traditional private equity firms. “Our model enables us to hold businesses, reinvest cashflows and benefit from compound growth, rather than having to sell them on every few years. Therefore our model is also more ‘founder friendly’ and a better way to support the type of traditional SMEs that are often the bedrock of the economy.”

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