Vivalda Group, like construction, is bucking the downward trend

Peter Johnson, founder and chairman of Vivalda Group plc., comments:

“A good number of other businesses in the construction sector have had a quietly positive year and Vivalda Group is no exception. Despite the challenges of huge fluctuations in raw material costs, skill shortages and breathtaking hikes in the price of energy, we hit all of our key targets in 2022 with an increase in turnover to a record £40m.

“While Jeremy Hunt’s recent budget did not scuttle any major UK building or civil projects such as Hinckley Point C and HS2, overall prospects for 2023 are patchy at best. Granted, construction was the only sector of the economy not in reverse gear according to the latest ONS survey; however, it is expected to dip into recession next year as higher interest rates take their inevitable toll on investment.

“Looking ahead to 2023 we expect to see increasing demand to supply remediation cladding for private as well as public sector buildings now the £6bn fund set aside for the purpose has been made more accessible. Replacing dangerous Grenfell-style cladding with Vivalda Group’s safety assured range represents a growing portion of our turnover, providing A1 and A2-rated cladding materials including fibre cement, GRC, solid aluminium, mineral rock and terracotta. We see demand for high quality and, above all, fire-resistant cladding continuing to grow for the foreseeable future. Our biggest challenge is to develop and retain skilled technicians, CNC operators and welders to deliver the levels of service our customers rightly demand.”