A builders' merchant has increased turnover to close to £50m on the back of acquisitions as well as organic growth.
In the year to 30 September 2018, Robert Price and Sons, which is headquartered in Abergavenny, grew turnover to £48.9m, up from £45.1m in the previous year.
Profit before tax rose to £3.45m, up from £1.71m.
The year was the first full-year following the acquisition of Gower Timber (Holdings) and Gower Timber, which resulted in growth in sales of £1.8m, with the other £2m in growth down to the company's core businesses.
Since the year closed, the company has undergone an internal restructure.
The report accompanying the results read: "Turnover has increased by £3.8m (8.5 per cent) from £45.1m to £48.9m due to strong growth in the group's core businesses and a full year of results for Gower Timber (Holdings) Ltd and Gower Timber Ltd following their acquisition by the group during the prior year.
"Approximately £1.8m of the increase relates to the ull year effect of Gower Timber (Holdings) Ltd and Gower Timber Ltd, accounting for an increase of 4.0 per cent in group sales. Robert Price (Builders Merchants) Ltd's sales grew by £1.0m (2.9 per cent) which accounts for a further 2.3 per cent increase in group sales.
"The remaining 2.2 per cent of the increase in group sales relates to increases in sales in other core businesses. Gross profit margin of the group has increased slightly from 27.7 per cent in 2017 to 28.1 per cent in 2018."