Strong annual sales growth for Newmarket-based AJN Steelstock

AJN Steelstock vehicles at the company's headquarters near Newmarket.
Picture: Craig Pusey

AJN Steelstock vehicles at the company's headquarters near Newmarket. Picture: Craig Pusey - Credit: Archant

Steel stockholding company AJN Steelstock has reported a near two-thirds increase in annual sales.

Steel stockholding company AJN Steelstock has reported a near two-thirds increase in annual sales.

AJN, which is based at Kentford, near Newmarket, saw turnover in the 12 months to April 30 grow by 64% compared with the previous year to £92m, representing around 144,000 tonnes of steel.

Sales benefited from a full year’s contribution from the company’s second depot, at Henstridge in Somerset, which opened in March 2016.

AJN Steelstock, a member of the EADT/EDP Top 100 list of the largest companies based in Suffolk and Norfolk, now employs 335 people across its two sites, with 75 new people having joined in the last 12 months following an intensive recruitment drive.


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Investment in new plant and vehicles over the last five years has now reached close to £15m, including nearly £1.5m in the past year.

AJN Steelstock’s finance director, Courtney Bell, said: “We are continually investing in our two sites, training our people and ploughing investment into the most up-to-date processing equipment so that we can offer our customers the highest levels of service.

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“This commitment means that our customers get the right steel, delivered on time anywhere in the country.”

“We had planned to make the coming year one of consolidation, where we draw all the successful elements of the business together and plan our next development phase, but we have been that successful over the last 18 months that we are now pushing forward with further expansion.

“We have invested heavily in the staff over this period, and that investment is really paying off. We are fortunate to be the kind of company that people join and stay with. That gives us tremendous continuity which our customers like. It also means that our teams are experienced, knowledgeable and professional.”

The company’s statement did not disclose a profit figure for the year to April 2017. Its last full accounts filed at Companies House show a pre-tax profit of £1.667m for the year to April 30, 2016, on turnover of £56.099m. Its accounts for the year to April 2017 are not due until January next year.

AJN Steelstock evolved out of a business originally known as Percy Fulcher & Co and based in Bury St Edmunds.

Its current name is derived from the initials of co-founder John Boyden and his sons Alan and Neil.

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