Oregon Timber

Oregon Release Year End Figures

April 15, 2010

Oregon Timber Frame Ltd has released its results for the year to 31st December 2009.

Turnover for the year was £8.76m, a drop of 26% compared with the previous year. This reflects a fall in workload caused by the rapid contraction in the house building industry, following the banking crisis of 2008.

Although adverse market conditions saw the company make a trading loss of £60,000.00 in 2009, financial adjustments – specifically the sale of their former premises in Jedburgh- enabled the company to make an overall profit before tax of £22,000.00 in the year.

In addition, close financial management has ensured that the company has a strong balance sheet with the result that cash increased by £950,000 over the year, generating a solid bank balance of £1.5m.

Despite the difficult market conditions in early 2009, an element of stability was apparent later in the year and Oregon has maintained core staff and skills, putting it in a strong position to resume growth as the housing market recovers.

Managing Director Mr David Maxwell commented:

"The team at Oregon has been successful in managing the effects of a severe market downturn on our business. As a result we are financially stable and well placed to service our customers as part of a safe, reliable supply chain."

For further information about this release or other press matters, please contact: Anne McDonald at AM Communications on Tel: 0131 449 9146; email info@amcomms.co.uk