Shopfitting Trends Market Report 20195.2 Shopfitting Contractors Ranked By Turnover 99 5.2.1 Contractors Ranking By Turnover – 2018 99 5.2.2 Shopfitting / Fit Out Contractors Sales

MTW Research Ltd 2019

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Shopfitting Market Trends

Research & Analysis

UK 2019-2023

Report Sample Charts & text have been changed for sample purposes

Shopfitting Market Size & Trends 2013-2023; SWOT & PEST Analysis, Product Mix & End Use Shares 2013-2023; Shopfitters Profiles & Key

Financials; Market Forecasts to 2023

1st Edition

October 2019


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Research & Analysis Report Contents

1. Introduction To Research & Analysis Reports 6

1.1 Key Components Of This Research & Analysis Report 6

1.2 Why MTW Research Reports? 6

1.3 Report Methodology & Sources Of Information 7

1.3.1 Sources Of Information 7

1.3.2 Methodology 7

1.3.3 About MTW Research 8

2. UK Shopfitting Market 9 2.1 Shopfitting Market Definition 9

2.2 Shopfitting Market Size, Trends & Forecasts 2013-2023 10

2.2.1 Market Annual Sales 2013-2023 £M (Current Prices) 10

2.2.2 Market Size In Constant Prices 2013-2023 11

2.2.3 Shopfitting Market Trends 2019 12

2.2.4 Shopfitting Market Forecasts & Prospects 2019-2023 15

2.3 Shopfitting Market Key Trends & Influences 18

2.3.1 PEST Analysis – Key Market Forces 18

2.3.2 Political & Legal Influences On Shopfitting 19

2.3.3 The Impact Of Brexit On The Market 21

Political Impact Of Brexit 21

Economic Impact Of Brexit 22

Longer Term Brexit Impact (2021-2023) 23

2.3.4 Macro Economic Influences & Trends 23

2.3.5 GDP 2013-2023 24

2.3.6 Inflation 2013-2023 25

2.3.7 Interest Rates 2013-2023 27

2.3.8 UK Unemployment 28

2.3.9 Commercial Property Market 2010-2023 29

2.3.10 UK Commercial New Build Construction Market 2013-2023 30

2.3.11 UK Commercial Refurbishment Construction Market 2013-2023 31

2.4 Shopfitting Market SWOT Analysis 34

3. Shopfitting Product Shares & Trends 36

3.1 Shopfitting Products Share 2013, 2019 & 2023 36

3.1.1 Building Product Shares By Value 2013 36

3.1.2 Building Product Shares By Value 2019 37

3.1.3 Shopfitting Building Product Shares By Value Forecasts 2023 38

3.2 Lighting & Luminaires Market Size & Trends 2013-2023 39

3.2.1 Lighting & Luminaires Shopfitting Market Size 2013-2023 39

3.2.2 Lighting & Luminaires Market Trends Overview 40

3.3 Ceilings And Partitions Market Size & Trends 2013-2023 42

3.3.1 Ceilings & Partitions Shopfitting Market Size 2013-2023 42

3.3.2 Ceilings & Partitions Market Trends Overview 2013-2023 43

3.4 Contract Floorcoverings Market Size & Trends 2013-2023 45

3.4.1 Contract Floorcoverings Market Trends Overview 2013-2023 46

3.5 Commercial Glazing Market Size & Trends 2013-2023 47

3.5.1 Commercial Glazing Shopfitting Market Size 2013-2023 47

3.5.2 Commercial Glazing Market Trends Overview 49

3.6 Heating, Ventilation & Air-Conditioning Market Size & Trends 2013-2023 50

3.6.1 HVAC Shopfitting Market Size 2013-2023 50

3.6.2 HVAC Market Trends Overview 2013-2023 52

3.7 Merchandising & Display Market Size & Trends 2013-2023 53

3.7.1 Merchandising Units & Displays Shopfitting Market Size 2013-2023 53

3.7.2 Merchandising & Display Shopfitting Market Trends Overview 54

3.8 Paint, Wallcoverings & Woodstain Market Size & Trends 2013-2023 56

3.8.1 Paint, Wallcoverings & Woodstain Shopfitting Market Size 2013-2023 56

3.8.2 Paint, Wallcoverings & Woodstain Shopfitting Market Trends Overview 57

3.9 Commercial Bathroom Market Size & Trends 2013-2023 58


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3.9.1 Bathroom Shopfitting Market Size 2013-2023 59

3.9.2 Bathroom Shopfitting Market Trends Overview 60

3.10 Commercial Kitchen Market Size & Trends 2013-2023 61

3.10.1 Commercial Kitchen Shopfitting Market Size 2013-2023 61

3.10.2 Commercial Kitchen Shopfitting Market Trends Overview 2013-2023 62

3.11 Security, CCTV, Fire Alarms Market Size & Trends 2013-2023 63

3.11.1 Security, CCTV, Fire Alarms Shopfitting Market Size 2013-2023 63

3.11.2 Security, CCTV, Fire Alarms Shopfitting Market Trends Overview 64

3.12 Electrical Accessories & Networks Market Size & Trends 2013-2023 65

3.12.1 Electrical Accessories & Networking Shopfitting Market Size 2013-2023 66

3.12.2 Electrical Accessories & Networks Shopfitting Market Trends Overview 67

3.13 Office Furniture Market Size & Trends 2013-2023 67

3.13.1 Office Furniture Shopfitting Market Size 2013-2023 67

3.13.2 Office Furniture Shopfitting Market Trends Overview 68

3.14 Shopfitting Labour & Services Market Size & Trends 2013-2023 69

3.14.1 Shopfitting Labour & Services Market Size 2013-2023 69

4. Shopfitting End Use Shares & Trends 72

4.1 Shopfitting End Use Sectors Historical Share 2013 72

4.2 Shopfitting End Use Sectors Current Share 2019 73

4.3 Shopfitting End Use Sectors Forecast Share 2023 74

4.4 UK Retail Shopfitting Market Size & Trends 2013-2023 75

4.4.1 Retail End Use Sector - Shopfitting Sales 2013-2023 76

4.4.2 All UK Retail Sales Annual Growth & Forecasts % 2013-2023 78

4.4.3 Internet Sales Share Of UK Retail Market Sales 2013-2023 79

4.5 UK Leisure & Entertainment Shopfitting Market Size 2013-2023 80

4.5.1 Leisure & Entertainment End Use Sector - Shopfitting Sales 2013-2023 80

4.6 Foodservice & Hotels Shopfitting Market & Trends 2013-2023 84

4.6.1 UK Hotels Market 2013-2023 84

4.6.2 UK Restaurant Market 2013 -2023 86

4.6.3 UK Pubs Market 2013 -2023 88

4.7 UK Museums & Galleries Shopfitting Size & Trends 2013-2023 90

4.7.1 UK Museums Market 2013 -2023 91

4.8 UK Garages & Motor Trade Shopfitting Size & Trends 2013-2023 93

4.8.1 UK Car Retailers Market 2013 -2023 94

4.9 Banks & Building Societies Shopfitting Size & Trends 2013-2023 96

5. Shopfitting Contractors Ranking & Profiles 98

5.1 Introduction To The Rankings & Profiles 98

5.1.1 Turnover & Profit Estimates For Each Company 98

5.1.2 Companies Included 98

5.2 Shopfitting Contractors Ranked By Turnover 99

5.2.1 Contractors Ranking By Turnover – 2018 99

5.2.2 Shopfitting / Fit Out Contractors Sales Rankings 100

5.3 Shopfitting Companies Ranking By Profit 101

5.4 Shopfitting Companies Ranking By Net Worth 102

5.5 Leading Shopfitting Contractors Profiles & 3 Year Financials 103

5.5.1 1 Page Overview & ‘At A Glance' 3 Year Financials ’ For 40+ Leading Fit Out Contractors 103 - 146


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Market Report Tables & Charts

Figure 1: Shopfitting Market Sales 2013-2023..............................................................................................10

Figure 2: Shopfitting Market Sales in Constant Prices 2013-2023 ..................................................................12

Figure 3: Shopfitting Market Forecasts 2013-2019.........................................................................................16

Figure 4: PEST Analysis for UK Shopfitting Market in 2019...........................................................................18

Figure 5: UK Economic Annual Performance– GDP 2013-2023 .....................................................................24

Figure 6: UK Economic Annual Performance– Inflation (CPI) 2012-2022 .......................................................26

Figure 7: UK Economic Annual Performance– Interest Rates (Bank of England) 2013-2023.........................27

Figure 8: UK Unemployment Numbers 2013-2023 ..........................................................................................28

Figure 9: UK Non-Domestic Property Transactions 2010-2023 ..................................................................29

Figure 10: UK Commercial Construction Market by Value 2012-2022 ........................................................30

Figure 11: UK Commercial Refurbishment Construction Market by Value 2012-2022....................................32

Figure 12: Key Strengths & Weaknesses in the Shopfitting Market 2019-2023............................................34

Figure 13: Key Opportunities & Threats in the Shopfitting Market 2019-2023 .............................................35

Figure 14: Shopfitting Products Share 2013 ....................................................................................................36

Figure 15: Shopfitting Products Share 2019...................................................................................................37

Figure 16: Shopfitting Products Share 2023 ....................................................................................................38

Figure 17: UK Lighting Shopfitting Market by Value 2013-2023.....................................................................39

Figure 18: UK Ceiling and Partitions Shopfitting Market by Value 2013-2023..............................................42

Figure 19: UK Floorcoverings Shopfitting Market by Value 2013-2023.........................................................45

Figure 20: UK Commercial Glazing Shopfitting Market by Value 2013-2023 ................................................48

Figure 21: UK Heating, Ventilation, Air-Conditioning Shopfitting Market by Value 2013-2023 ..................51

Figure 22: Merchandising Units & Display Shopfitting Market by Value 2013-2023....................................54

Figure 23: Paint, Wallcoverings & Woodstain Shopfitting Market by Value 2013-2023 ..............................57

Figure 24: Bathroom Products via Shopfitting Market by Value 2013-2023...................................................59

Figure 25: Kitchen Products via Shopfitting Market by Value 2013-2023.......................................................61

Figure 26: CCTV, Fire Alarm & Security Products via Shopfitting Market by Value 2013-2023 ...................64

Figure 27: Electrical Accessory & Networking Products via Shopfitting Market by Value 2013-2023 ........66

Figure 28: Office Furniture Products via Shopfitting Market by Value 2013-2023.........................................68

Figure 29: Services & Labour Sales via Shopfitting Market by Value 2013-2023...........................................70

Figure 30: Shopfitting End Use Sectors Share 2013 .......................................................................................72

Figure 31: Shopfitting End Use Sectors Share 2019 .....................................................................................73

Figure 32: Shopfitting End Use Sectors Share 2023 .......................................................................................74

Figure 33: Retail End Use Sector – Shopfitting Sales by Value 2013-2023 ....................................................76

Figure 34: All UK Retail Sales Annual Growth & Forecasts % 2013-2023..................................................78

Figure 35: Internet Sales Share of UK Retail Market % 2013-2023...............................................................79

Figure 36: Leisure & Entertainment End Use Sector – Shopfitting Sales by Value 2013-2023 ..................81

Figure 37: Construction & RMI Activity in Entertainment End Use Sector 2013-2023.....................................83

Figure 38: Foodservice & Hotels End Use Sector – Shopfitting Sales by Value 2013-2023 .......................84

Figure 39: Number of Hotels in UK 2013-2023 ................................................................................................85

Figure 40: UK Hotel Market by Sales 2013-2023 ...........................................................................................86


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Figure 41: Number of Restaurants in UK 2013-2023.......................................................................................87

Figure 42: UK Restaurant Market by Sales 2013-2023 ...................................................................................88

Figure 43: Number of Pubs in UK 2013-2023 ..................................................................................................89

Figure 44: UK Pubs Market Value 2013-2023..................................................................................................90

Figure 45: Museums & Galleries End Use Sector – Shopfitting Sales by Value 2013-2023 .......................91

Figure 46: Number of Museums in UK 2013-2023...........................................................................................92

Figure 47: UK Museums Market Value 2013-2023 ..........................................................................................93

Figure 48: Garages & Motor Traders End Use Sector – Shopfitting Sales by Value 2013-2023.................94

Figure 49: Number of Car Retailers in UK 2013-2023 .....................................................................................95

Figure 50: UK Car Retailers Market Value 2013-2023.....................................................................................96

Figure 51: Banks & Building Societies End Use Sector – Shopfitting Sales by Value 2013-2023 .............97

Table 52: Ranking by Turnover 2018 – Shopfitting / Fit Out Contractors......................................................99

Table 53: Turnover Estimates (£M)– Shopfitting / Fit-Out Contractors .......................................................100

Table 54: Shopfitting / Fit-Out Contractors Ranked by Profit .......................................................................101

Table 55: Shopfitting / Fit-Out Contractors Ranked by Net Worth ...............................................................102

Figures 56- 99 3 Year Financials for 40+ Fit Out Contractors .........................................................103 - 146


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Published in 2019 by

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2. UK SHOPFITTING MARKET

2.1 SHOPFITTING MARKET DEFINITION

The UK Shopfitting Market is defined as consisting of sales of the following

products:-

�Ceilings & Partitions

�Lighting Controls, Lamps & Luminaires

�Contract Floorcoverings

�Commercial Glazing

�Heating, Ventilation & Air-Conditioning (HVAC)

�Merchandising & Display Units

�Paint, Wallcoverings, Woodstain

�Bathroom Products (sanitaryware, baths, brassware)

�Kitchen Products (furniture, worktops, brassware & sinks)

�Security, CCTV & Fire Alarms

�Electrical Accessories & Networking Components

�Office Furniture

�Labour (excluding delivery)

Manufactured, installed or distributed by or through companies whose primary activity is the provision of new build and RMI (repair, maintenance &

improvement) fit out services to the commercial end use sectors of:-

�Retail Stores & Estates

�Leisure Facilities (e.g.health/fitness, cinemas, soft play, bowling, leisure centres etc),

�Restaurants, Pubs & Hotels

�Banks & Building Societies

�Museums & Art Galleries

�Garages & Motor Trade Estates

The definition excludes publicly funded buildings including estates operated by

Facilities Management companies. Specifically excluded are airport / rail / bus

terminals, health & education and public museums and libraries. We have also sought to exclude delivery and tax, import costs etc with prices expressed in

contractors selling prices.


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2.2 SHOPFITTING MARKET SIZE, TRENDS & FORECASTS 2013-2023

The UK Shopfitting Market is currently valued at just under £xx xxxxxx in 2019, reflecting a significant proportion of the UK construction industry and

one which has experienced xxx xxxx xxxxxx xxxx of between x% and x% since 2013.

The market has experienced a xxx xxxx xxxxxx xxxx shift in market demand in

recent years as a result of xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx and xxx xxxx xxxxxx xxxx trends, with a number of contractors rapidly xxx xxxx

xxxxxx xxxx or xxx xxxx xxxxxx xxxx as a result. Whilst current market trends suggest xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx

xxxx at present, there remain a number of opportunities across the shopfitting

market.

2.2.1 Shopfitting Market Annual Sales 2013-2023 £M (Current Prices)

The performance of the UK Shopfitting Market since 2013 is illustrated below:-

Figure 1: Shopfitting Market Sales 2013-2023

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800

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Sales Value £M

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% Change

Value £M

% Change

Value £M 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000

% Change 1 2 3 4 5 1 2 3 4 5

2013 2014 2015 2016 2017 2018 2019e 2020f 2021f 2022f 2023f

Figures changed for sample purposes Source: MTW Research / Trade Estimates

The UK shopfitting market is valued at £x billion in 2019, reflecting xxx xxxx

xxxxxx xxxx of x% since 2018 and underlining a sector which continues to xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx.

Since 2013, sales are estimated to have xxx xxxx xxxxxx xxxx xxx xxxx

xxxxxx xxxx %, with the market xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx million in the last 6 years, reflecting xxx xxxx xxxxxx

xxxx performance and an average annual xxx xxxx xxxxxx xxxx rate of x%.


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However, as indicated in the xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx

indicator in the above chart, growth has consistently xxx xxxx xxxxxx xxxx in recent years, from a peak of xx% in xx. Annual xxxxx is expected to trough in

xxx at just over 3% and remain at similar levels for much of xxxx, before strengthening from Q3 xxxx onwards as xxx xxxx xxxxxx xxxx returns and xxx

xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx strengthens. Whilst this xxx xxxx xxxxxx xxxx is reliant on a relatively xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx

xxxx, underlying fundamentals xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx consumer xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx continuing to xxx xxxx

xxxxxx xxxx, xxx xxxx xxxxxx xxxx remaining at very low levels and average

xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx continuing.

Whilst there may some short term xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx in the near term from xxx xxxx xxxxxx xxxx, many

companies have xxx xxxx xxxxxx xxxx, investment and fit outs for xxx xxxx xxxxxx xxxx, with trade sources indicating that there is a growing element of

xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx in the medium to longer term.

As such, sales are xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx from 2021 onwards, with annual xxx xxxx xxxxxx xxxx reaching some x% in the next 4

years. By December 2023, our forecasts are for sales to have xxx xxxx xxxxxx xxxx xxx xxxx xxxxxx xxxx some £xxx billion, reflecting an xxx xxxx xxxxxx

xxxx % in the next 4 years.

It should be noted that should a disorderly Brexit occur which causes

substantial disruption to import and export activity, the market is likely to experience an average xxx% xxxxx in xxxx per annum in the next 4 years with

the market forecast to be worth some £x billion by 2023. This reflects a ‘Brexit effect’ loss of potential sales growth of around £xxx million over the next 4

years.

2.2.2 Market Size in Constant Prices 2013-2023

The performance of the UK Shopfitting Market since 2013 in constant prices is

illustrated below:-


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Figure 2: Shopfitting Market Sales in Constant Prices 2013-2023

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400

600

800

1000

1200Sales Value £M

0

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% Change

Value £M

% Change

Value £M 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000

% Change 1 2 3 4 5 1 2 3 4 5

2013 2014 2015 2016 2017 2018 2019e 2020f 2021f 2022f 2023f

Source: MTW Research / Trade Estimates

The impact of xxxxx xxxx on the UK shopfitting market is xxxxx xxxx xxxxx xxxx the above chart with much of the current x% growth accounted for by

xxxxx xxxx, rather than any xxxxx xxxx xxxxx xxxx xxxxx xxxx which is estimated at x% in 2019.

Since xxxxx xxxx, sales in real terms have xxxxx xxxx xxxxx xxxx x%, reflecting an average annual xxxxx xxxx xxxxx xxxx %. The market

experienced a peak rate of xxxxx xxxx in real terms in xxx at 4x% as xxxxx xxxx remained at 0%. Since 2015, xxxxx xxxx xxxxx xxxx risen and is

estimated at around x% in 2019 with this xxxxx xxxx in the near term before falling back to the target x% in the next few years.

To year end December 2023, our forecasts are for the shopfitting market to

xxxxx xxxx xxxxx xxxx in constant 2013 prices, reflecting a xxxxx xxxx of just over x% in the next 4 years.

2.2.3 Shopfitting Market Trends 2019

There are currently just under xxx shopfitting companies active in the UK, with the number of companies xxxxx xxxx xxxxx xxxx xxxxx xxxx in recent years in

response xxxxx xxxx as a result of xxxxx xxxx xxxxx xxxx xxxxx xxxx growth – particularly in the xxxxx xxxx xxxxx xxxx xxxxx xxxx end use sector.

The commodity goods retailing sector, with the exception of the xxxxx xxxx

supermarkets, has generally xxxxx xxxx xxxxx xxxx xxxxx xxxx in the last few

years resulting in what some sources describe as xxxxx xxxx xxxxx xxxx shopfitters active in the retail fit out market in 2019.


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Despite more xxxxx xxxx xxxxx xxxx in recent years, the shopfitting sector

xxxxx xxxx xxxxx xxxx of the commercial refurbishment sector and critical to the xxxxx xxxx xxxxx xxxx product manufacturers as a result. Shopfitting

contractors account for some x% of the total commercial RMI (repair, maintenance & improvement) activity undertaken in 2019, reflecting this

sectors’ xxxxx xxxx, xxxxx xxxx and multi- xxxxx xxxx approach alongside practical fit out xxxxx xxxx xxxxx xxxx.

Of the approximately xxx shopfitting companies active in 2019, the top 20

account for around x% of the total shopfitting market, equating to a value of

some £x billion. Average turnover of xxx shopfitting companies is around £x million per annum, with much of this sector targeting the x x and x / xxxxx

end use sectors.

As such, the market remains xxxxx xxxx xxxxx xxxx but also xxxxx xxxx xxxxx xxxx in nature, with only a xxxxx xxxx xxxxx xxxx xxxxx xxxx of

contractors xxxxx xxxx xxxxx xxxx xxxxx xxxx. Trade sources suggest that whilst the xxxxx xxxx xxxxx xxxx xxxxx xxxx in the medium term due to

xxxxx xxxx xxxxx xxxx xxxxx xxxx M&A activity, the xxxxx xxxx xxxxx xxxx of the market is xxxxx xxxx xxxxx xxxx xxxxx xxxx in the long term.

Whilst the structure of the market is set to xxxxx xxxx xxxxx xxxx xxxxx xxxx,

the market has experienced xxxxx xxxx xxxxx xxxx xxxxx xxxx xxxxx xxxx in the last few years, following a xxxxx xxxx xxxxx xxxx xxxxx xxxx trends.

More specifically, the rapid growth xxxxx xxxx xxxxx xxxx and decline in xxxxx

xxxx xxxxx xxxx xxxxx xxxx has resulted in the shopfitting market switching focus toward xxxxx xxxx xxxxx xxxx xxxxx xxxx xxxxx xxxx as xxxxx xxxx

xxxxx xxxx new orders have xxxxx xxxx dramatically.

Trade sources indicate that


15

2.3 SHOPFITTING MARKET KEY TRENDS & INFLUENCES

2.3.1 PEST Analysis – Key Market Forces

There are a large number of macro market issues and trends which directly or indirectly influence this market. These issues typically relate to political, legal,

economic, environmental, social and technological factors. The following diagram provides a brief overview of some of these key issues currently impacting the

market at present and those which may stimulate or dampen market growth in the future:-

Figure 4: PEST Analysis for UK Shopfitting Market in 2019

Source: MTW Research Strategic Review 2019

Whilst the above diagram is by no means exhaustive, it provides an illustration

of some of the key issues impacting the market at present and in the future.

UK SHOPFITTING

MARKET

POLITICAL

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

LEGAL

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

ECONOMIC

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

xxxxx xxxx

ENVIRONMENT

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

xxxxx xxxx

SOCIAL

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

TECHNOLOGICAL

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


16

2.4 SHOPFITTING MARKET SWOT ANALYSIS

Following a strategic review of the market, the following table identifies some of the key strengths & weaknesses evident at present:-

Figure 12: Key Strengths & Weaknesses in the Shopfitting Market 2019-2023

STRENGTHS WEAKNESSES

• Inherent xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

•

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

•


17

Key opportunities and threats evident in the market at present include:-

Figure 13: Key Opportunities & Threats in the Shopfitting Market 2019-2023

OPPORTUNITIES THREATS

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

•

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx


• xxxxx xxxx

• xxxxx xxxx

• xxxxx xxxx

Source: MTW Research Strategic Review 2019


18

3. SHOPFITTING PRODUCT SHARES & TRENDS The following section identifies the shares accounted for by the key product

sectors in the shopfitting market in 2013, 2019 and forecasts for 2023. Share by value is provided for:-

�Ceilings & Partitions

�Lighting Controls, Lamps & Luminaires

�Contract Floorcoverings

�Commercial Glazing

�Heating, Ventilation & Air-Conditioning (HVAC)

�Merchandising & Display Units

�Paint, Wallcoverings, Woodstain

�Bathroom Products (sanitaryware, baths, brassware)

�Kitchen Products (furniture, worktops, brassware & sinks. excluding appliances)

�Security, CCTV & Fire Alarms

�Electrical Accessories & Networking Components

�Office Furniture

�Labour (excluding delivery)

3.1 SHOPFITTING PRODUCTS SHARE 2013, 2019 & 2023

3.1.1 Building Product Shares by Value 2013

The following chart illustrates our estimates of the historical mix by product in

the shopfitting market in 2013:-

Figure 14: Shopfitting Products Share 2013

Office Furniture

8%

Labour

8%

Sec, CCTV, Fire

8%

Electr ical Acc

8%

Bathroom

8%

Kitchen

8%

HVAC

8%

Merch / Display

8%

Paint etc

8%

Floorcoverings

7%

Open Panel

71%

Glazing

7%

Cei lings & Partitions

7%

Figures changed for sample - Source: MTW Research / Trade Estimates


19

As illustrated, the largest proportion of the UK shopfitting market is accounted for by xxx which accounted for some x% of the market value in 2013,

reflecting a value of just under £xxx million.

The second largest sector was accounted for by xxxxxx products with sales valued at some £xxx million in 2013. xxxxxxxx was also significant in 2013

with a market share of xxx% and sales of £xxx million.

3.1.2 Building Product Shares by Value 2019

The following chart illustrates the share accounted for by each product sector

in 2019:-

Figure 15: Shopfitting Products Share 2019

Office Furniture

8%

Labour

8%

Sec, CCTV, Fire

8%

Electr ical Acc

8%

Bathroom

8%

Kitchen

8%

HVAC

8%

Merch / Display

8%

Paint etc

8%

Floorcoverings

7%

Open Panel

71%

Glazing

7%

Cei lings & Partitions

7%


Whilst shares have xxx xxxx xxxxxx in the last 6 years, there has been some xxx xxxx xxxxxx, with xxx xxxx xxxxxx sectors outperforming the market

whilst xxx xxxx xxxxxx have experienced share loss.

The fastest paced growth sector since 2013 is the xxx xxxx xxxxxx sector

which has continued to benefit from xxx xxxx xxxxxx product xxx xxxx xxxxxx xxx xxxx xxxxxx differentiation opportunities. In 2013, xxx xxxx xxxxxx

products accounted for some x% with this rising to 6.7% in 2019, reflecting a total sector value growth of x% in the last 6 years.

Significant product xxx xxxx xxxxxx xxx xxxx xxxxxx changes in the xxx xxxx

xxxxxx market have also resulted in this sector outperforming the shopfitting market in recent years. In 2013, sales of xxx xxxx xxxxxx products accounted

for 7.5% of the market, with this increasing to x% in 2019 and a sector growth rate of 29%.

Sectors which have underperformed against the overall shopfitting market in

the last 6 years include


20

3.2 LIGHTING & LUMINAIRES MARKET SIZE & TRENDS 2013-2023

3.2.1 Lighting & Luminaires Shopfitting Market Size 2013-2023

The following chart illustrates the performance of sales of lighting products through shopfitters since 2013, with forecasts to 2023:-

Figure 17: UK Lighting Shopfitting Market by Value 2013-2023

0

200

400

600

800

1000

1200

Sales Value £M

0

1

2

3

4

5

6

7

8

9

10

% Change

Value £M

% Change

Value £M 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000

% Change 1 2 3 4 5 1 2 3 4 5

2013 2014 2015 2016 2017 2018 2019e 2020f 2021f 2022f 2023f

Figures changed for sample - Source: MTW Research

Sales of lighting products in the shopfitting market are currently valued at just

under £xxx million in 2019 - an xxxx xxx xxxxxx% since 2013, reflecting a sector which has xxxx xxx xxxxxx the overall shopfitting market in recent

years.

As illustrated, sales xxxx xxx xxxxxx has xxxx xxx xxxxxx since the xxxx xxx xxxxxx of x% in xxxx xxx xxxxxx, though estimated xxxx xxx xxxxxx in 2019

remains xxxx xxx xxxxxx 3%. Performance is expected to remain xxxx xxx xxxxxx xxxx xxx xxxxxx years, strengthening from xxxx xxx xxxxxx xxxx xxx

xxxxxx as xxxx xxx xxxxxx demand xxxx xxx xxxxxx in xxxx xxx xxxxxx with improving xxxx xxx xxxxxx underpinning xxxx xxx xxxxxx value xxxx xxx

xxxxxx.

To year end December 2023, our forecasts are for sales to increase to around

£x million, reflecting an xxxx xxx xxxxxx xxxx xxx xxxxxx % in the next 4 years. Between 2013 and 2023, total sales are expected to have xxxx xxx

xxxxxx by some x%, in comparison to the overall shopfitting market growing by x%.


21

3.2.2 Lighting & Luminaires Market Trends Overview

The lighting market has experienced xxxx xxx xxxxxx in recent xxxx xxx xxxxxx due to xxxx xxx xxxxxx xxxx xxx xxxxxx coupled with d xxxx xxx xxxxxx

products in part driven by the xxxx xxx xxxxxx xxxx xxx xxxxxx. Whilst there has been considerable xxxx xxx xxxxxx xxxx xxx xxxxxx certain sectors of the

market, xxxx xxx xxxxxx xxxx xxx xxxxxx industry have continued to xxxx xxx xxxxxx xxxx xxx xxxxxx have continued to develop, taking a greater percentage

of the market share.

The shopfitting lighting market has continued to xxxx xxx xxxxxx from the rising focus on xxxx xxx xxxxxx xxxx xxx xxxxxx within xxxx xxx xxxxxx xxxx xxx

xxxxxx venues in particular. The use of xxxx xxx xxxxxx is growing to enhance

xxxx xxx xxxxxx, create different ‘xxxx xxx xxxxxx, enhance the xxxx xxx xxxxxx xxxx xxx xxxxxx and support the xxxx xxx xxxxxx xxxx xxx xxxxxx retail

environments that xxxx xxx xxxxxx are now offering.

To year end December 2019 our estimates are that sales of all lighting products are likely to xxxx xxx xxxxxx xxxx xxx xxxxxx % in current price terms,

reflecting a xxxx xxx xxxxxx xxxx xxx xxxxxx performance in response to xxxx xxx xxxxxx following the xxxx xxx xxxxxx and xxxx xxx xxxxxx xxxx xxx xxxxxx

growth. Since 2013, it is estimated that the market has xxxx xxx xxxxxx by just under x% from a value of £x billion to xxxx xxx xxxxxx xxxx xxx xxxxxx billion

xxxx xxx xxxxxx (total UK lighting market).

The UK lighting market reflects xxxx xxx xxxxxx xxxx xxx xxxxxx within a particularly xxxx xxx xxxxxx xxxx xxx xxxxxx. As illustrated above, performance

xxxx xxx xxxxxx xxxx xxx xxxxxx and, as xxxx xxx xxxxxx, near term forecasts

are for xxxx xxx xxxxxx in the medium to longer term as the UK economy xxxx xxx xxxxxx and an xxxx xxx xxxxxx xxxx xxx xxxxxx

For the near term however, trading conditions are likely to xxxx xxx xxxxxx xxxx

xxx xxxxxx as larger xxxx xxx xxxxxx projects are xxxx xxx xxxxxx as xxxx xxx xxxxxx maintain their ‘xxxx xxx xxxxxx xxxx xxx xxxxxx.

Nevertheless, the lighting market will continue to experience underlying growth

from a number of key factors, including:-

� Modest xxxx xxx xxxxxx xxxx xxx xxxxxx xxxx xxx xxxxxx sectors.

� Sustained focus on xxxx xxx xxxxxx xxxx xxx xxxxxx xxxx xxx xxxxxx applications.

� Growth in the use of xxxx xxx xxxxxx xxxx xxx xxxxxx xxxx xxx xxxxxx xxxx xxx xxxxxx trends.

� Sustained xxxx xxx xxxxxx offering added value growth (e.g xxxx xxx xxxxxx)

� Share growth in xxxx xxx xxxxxx xxxx xxx xxxxxx xxxx xxx xxxxxx values

� ‘xxxx xxx xxxxxx xxxx xxx xxxxxx xxxx xxx xxxxxx market underpinning demand

� xxxx xxx xxxxxx from September 2018, boosting xxxx xxx xxxxxx sector.


22

� xxxx xxx xxxxxx xxxx xxx xxxxxx growth, low xxxx xxx xxxxxx, rising xxxx xxx xxxxxx xxxx xxx xxxxxx xxxx xxx xxxxxx.

� Growth in xxxx xxx xxxxxx boosting opportunities for suppliers to xxxx xxx xxxxxx xxxx xxx xxxxxx

xxxx xxx xxxxxx continues to xxxx xxx xxxxxx xxxx xxx xxxxxx for the UK

lighting market in 2019, both in the


23

4. SHOPFITTING END USE SHARES & TRENDS The shopfitting market encompasses a wide range of end use sectors within

the private commercial (‘for profit’) sector, with a growing number of niche segments therein, including:-

� Retail – e.g. grocery multiples, high street, DIY / hardware, convenience, catalogue stores, department stores, secondary high street, malls / shopping centres etc.

� Leisure & Entertainment – Gyms / fitness / spas, leisure centres, cinemas, theatres, amusement arcades, bowling alleys, kids play facilities, escape rooms etc

� Foodservice & Hotels - Restaurants, pubs, nightclubs, hotels / motels, cafes etc.

� Banks & Building Societies – high street locations

� Private Museums, Galleries etc

� Garage & Auto Trade – Auto retailers, car dealerships, petrol stations / garages etc

Public and charitable organisations are specifically excluded from the analysis.

4.1 SHOPFITTING END USE SECTORS HISTORICAL SHARE 2013

The following chart illustrates our estimates of the historical mix by end use sector in the shopfitting market in 2013:-

Figure 30: Shopfitting End Use Sectors Share 2013

Museums & Galleries

17%

Motor Trade

17%

Foodservice & Hotels

17%Leisure & Entertainment

30%

Banks etc

17%

Retail

16%


As illustrated, the xxxx xxx xxxxxx end use sector accounted for the majority share of the market in 2013 at x%, reflecting a value of some £x billion of

sales. In 2013, sales to this sector were supported by xxxx xxx xxxxxx xxxx xxx xxxxxx in both new build and refurbishment activity, underpinning sales

growth.


24

The second largest sector in 2013 was the xxxx xxx xxxxxx xxxx xxx xxxxxx market at x% and sales of just under £x billion.

The xxxx xxx xxxxxx market accounted for around x% of sales in 2013,

reflecting a value of some £x million with healthy growth emanating from rising construction and refurbishment activity in the budget hotels and casual

dining sector in particular.

4.2 SHOPFITTING END USE SECTORS CURRENT SHARE 2019

The following chart illustrates our estimates of the current mix by end use

sector in the shopfitting market in 2019:-

Figure 31: Shopfitting End Use Sectors Share 2019

Museums & Galleries

17%

Motor Trade

17%

Foodservice & Hotels

17%

Leisure & Entertainment

30%

Banks etc

17%

Retail

16%


The relatively dramatic shift in the structure of the market is clearly evident in

the above chart, with the xxx xxxxx x xxxx end use sector having xxxx share in recent years from x% in 2013 to current levels of around x%.

Shopfitting sales to the xxxx end use sector have xxxx over the last 6 years,

highlighting a xxx xxxxx x xxxx a number of shopfitting companies have more

xxx xxxxx x xxxx xxx xxxxx x xxxx xxx xxxxx x xxxx which have required xxx xxxxx x xxxx xxx xxxxx x xxxx operations. In 2013 the xxx xxxxx x xxxx

sector was worth some £x billion to the shopfitting market, in 2019 this has contracted to £x billion, reflecting a xxxxx of x% in the last 6 years.

Conversely, the xxx xxxxx x xxxx sector has xxx xxxxx x xxxx xxx xxxxx x

xxxx share since 2013, xxx xxxxx x xxxx from x% to current levels of x%. Sales to this end use sector have continued to xxx xxxxx x xxxx the overall

shopfitting market, rising from xxx billion to current levels of £x billion in 2019. The rapid re-focusing of xxx xxxxx x xxxx xxx xxxxx x xxxx toward the xxx

xxxxx x xxxx and xxx xxxxx x xxxx sector is xxx xxxxx x xxxx given that this sector has increased sales by some 70% in the last 6 years.


25

4.3 UK RETAIL SHOPFITTING MARKET SIZE & TRENDS 2013-2023

The retail end use sector represents a key market for the shopfitting market, with a range of different retail channels active, including but not limited to:-

� Convenience Retailers – a small to medium grocery and convenience shop usually operating near residential areas.

� Specialty Retailers – a store which concentrates on narrow product areas, eg clothing, electrical goods, entertainment.

� Grocery Multiple / Supermarkets – a medium to large grocery and household store aiming for low-margin / high-volume sales.

� Discount Stores – a small, medium or large shop which sources end-of-run stock or branded goods to sell at heavily discounted prices.

� Department Stores – a large store with a range of goods and services, divided into departments which can be individually managed by buyers, merchandisers or a separate private business.

� Warehouse / direct retailer – a medium to large store, usually off the high street, stocking goods directly from manufacturer or with costs of another step in supply chain removed.

� Online Retailer - selling directly to customers through an e-commerce website.

� Catalogue Retailer – retail outlet with secondary high street / shopping centre / franchise location selling via a catalogue.

4.3.1 Retail End Use Sector - Shopfitting Sales 2013-2023

The following chart illustrates shopfitters sales to the retail market since 2013, with forecasts to 2023:-


26

Figure 33: Retail End Use Sector – Shopfitting Sales by Value 2013-2023

0

200

400

600

800

1000

1200

Sales Value £M

0

1

2

3

4

5

6

7

8

9

10% Change

Value £M

% Change

Value £M 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000

% Change 1 2 3 4 5 1 2 3 4 5

2013 2014 2015 2016 2017 2018 2019e 2020f 2021f 2022f 2023f

Source: MTW Research

The retail end use sector is currently valued at some £x billion in 2019, reflecting a xxxx of around xxx% in 2019, preceded by an xxx% xx xxxx in

2018. As illustrated, the sector has xx xxxx exhibited xx xxxx xx xxxx growth since xx xxxx as xx xxxx with the growing xx xxxx has continued to xx xxxx xx

xxxx xx xxxx xx xxxx new build and RMI sectors.

Since 2013, total sales in this sector are estimated to have xx xxxx by xx%, reflecting a xx xxxx and one which has xx xxxx xx xxxx xx xxxx xx xxxx xx

xxxx xx xxxx

To year end December 2023, the sector is forecast to


27

5. SHOPFITTING CONTRACTORS RANKING & PROFILES

5.1 INTRODUCTION TO THE RANKINGS & PROFILES

5.1.1 Turnover & Profit Estimates for Each Company

The following section ranks leading companies by various key financial indicators.

It should be noted that each company will have varying degrees of activity within this sector and will include an element of variation in terms of product and

service portfolio.

Where possible, we have used the financial information reported by each company. However, small and medium sized companies are not obliged to

disclose turnover, profit before tax and number of employees etc. Where this data does not exist, MTW have provided an estimate based on industry averages,

other financial indicators and background knowledge of the industry.

Whilst we endeavour to attain high levels of accuracy, the rankings and other information provided within this report may contain an element of estimation and

inclusion or otherwise of an organisation in this section does not necessarily indicate a company’s relevance in the market.

5.1.2 Companies Included

Redacted from Sample


28

5.2SHOPFITTING CONTRACTORS RANKED BY TURNOVER

5.2.1 Contractors Ranking by Turnover – 2018

The table illustrates our estimates of the turnover rank for each contractor in 2018:-

Table 52: Ranking by Turnover 2018 – Shopfitting / Fit Out Contractors

1. xxx xxxxx xxxx

2. xxx xxxxx xxxx

3. xxx xxxxx xxxx

4. xxx xxxxx xxxx

5. xxx xxxxx xxxx

6. xxx xxxxx xxxx

7. xxx xxxxx xxxx

8. xxx xxxxx xxxx

9. xxx xxxxx xxxx

10. xxx xxxxx xxxx

11. xxx xxxxx xxxx

12. xxx xxxxx xxxx

13. xxx xxxxx xxxx

14. xxx xxxxx xxxx

15. xxx xxxxx xxxx

16. xxx xxxxx xxxx

17. xxx xxxxx xxxx

18. xxx xxxxx xxxx

19. xxx xxxxx xxxx

20. xxx xxxxx xxxx

21. xxx xxxxx xxxx

22. xxx xxxxx xxxx

23. xxx xxxxx xxxx

24. xxx xxxxx xxxx

25. xxx xxxxx xxxx

26. xxx xxxxx xxxx

27. xxx xxxxx xxxx

28. xxx xxxxx xxxx

29. xxx xxxxx xxxx

30. xxx xxxxx xxxx

31. xxx xxxxx xxxx

32. xxx xxxxx xxxx

33. xxx xxxxx xxxx

34. xxx xxxxx xxxx

35. xxx xxxxx xxxx

36. xxx xxxxx xxxx

37. xxx xxxxx xxxx

38. xxx xxxxx xxxx

39. xxx xxxxx xxxx

40. xxx xxxxx xxxx

Source: MTW Research / Company Accounts


29

5.2.2 Shopfitting / Fit Out Contractors Sales Rankings

The following table illustrates the 2018 estimated turnover for each company:-

Table 53: Turnover Estimates (£M)– Shopfitting / Fit-Out Contractors

Trading Name 2018 Turnover Estimate £M

Redacted Redacted

Redacted Redacted

Redacted Redacted

Redacted Redacted

Redacted Redacted

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Redacted Redacted

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Redacted Redacted

Redacted Redacted

Redacted Redacted

Redacted Redacted

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Redacted Redacted

Redacted Redacted

Redacted Redacted

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Redacted Redacted

Redacted Redacted


© MTW Research 2019

30

5.3 SHOPFITTING COMPANIES RANKING BY PROFIT

The following table illustrates the ranking for each company by profit:-

Table 54: Shopfitting / Fit-Out Contractors Ranked by Profit


© MTW Research 2019

31

At A Glance - Key Financial Indicators

£0.00

£1.00

£2.00

£3.00

£4.00

£5.00

£6.00

Year1 Year2 Year3

Fixed Assets Current Assets Net Worth

5.4 LEADING SHOPFITTING CONTRACTORS PROFILES & 3 YEAR FINANCIALS

The following section identifies some of the key UK companies in the market and provides a 1 page profile with key performance indicators for each. Whilst we endeavour to include all the major players in the market, inclusion or otherwise in the following section does not

necessarily indicate a company’s relevance in the market.

Sample.Limited - Company Overview & ‘At a Glance’ Sample Sample West Midlands B19 Sample Tel: Sample Sample Limited is a private limited company, incorporated on 24th March 1914. The company’s main activities are recorded by Companies House as “Shopfitter.” In 2019, the company has an estimated 87 employees. To year end December 2018, Sample.limited is estimated to have achieved a turnover of around £8 million. Pre-tax profit for the same period is estimated at around £0.3 million. The following table briefly provides a top line overview on Sample.Limited:-

Company Name Sample Limited

Brief Description of Activities Shopfitter.

Parent Company

Ultimate Holding Company

Estimated Number of Employees 87

Senior Decision Maker / Director Sample

The following table illustrates the company’s key performance indicators for the last 3 years:-

Sample Limited - 3 Year Financials to Year End 29-Sep-18

Key Indicator £M Year End 24-Sep-16 (Year1) £M

Year End 30-Sep-17 (Year2) £M

Year End 29-Sep-18 (Year3) £M

Fixed Assets £0.12 £0.22 £0.32

Current Assets £3.85 £4.84 £4.96

Current Liabilities £1.9 £2.85 £2.85

Long Term Liabilities - - -

Net Worth £2.07 £2.21 £2.43

Working Capital £1.95 £1.99 £2.11

Profit per Employee £0.003 £0.003 £0.004

Sales per Employee £0.07 £0.085 £0.076

REPORT ENDS

Shopfitting Trends Market Report 20195.2 Shopfitting Contractors Ranked By Turnover 99 5.2.1 Contractors Ranking By Turnover – 2018 99 5.2.2 Shopfitting / Fit Out Contractors Sales

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