Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Leading NZ builder reports $102m turnover

Leading NZ builder reports $102m turnover

Leading NZ building manufacturer Versatile Buildings today reported a 12 monthly group retail turnover of $102 million.

This is an increase of 163 percent over the last four years.

New managing director of the Versatile Buildings group Bruce Matheson said Versatile was on track for further building growth in 2003-2004.

The significant growth over the last three years is a combination of the purchase of an Australian steel building business and the introduction and expansion of the Totalspan steel building franchise network in New Zealand.

Mr Matheson was recently appointed to the position of managing director although he has been an independent director of Versatile for eight years.

He was chief executive of Meadow Mushrooms for the last four years and has previously been general manager of the Lyttelton Port Company and chairman of the first privatised port company in Australia, Port of Portland.

``We make up half of the 7000 garages built in New Zealand each year, and excluding garden sheds, manufacture about 5000 buildings annually across the Versatile and Totalspan brands in New Zealand”.

Versatile’s New Zealand manufacturing & retail turnover has grown significantly in the last year. Their subsidiary, Totalspan, which specialises in steel portal framed buildings, has seen a 50 percent volume growth in the last 12 months.

Versatile’s total manufacturing and distribution operations in New Zealand employs 300 staff excluding sub trade contractors. There are 56 retail outlets nationwide; 33 Versatile and 23 Totalspan.

``Totalspan volume has trebled in size in the last two years and is forecast to double in the next 12 months.

``We are setting up a plant extension in Christchurch instead of importing from Australia just to keep up with Totalspan growth,’’ Mr Matheson said.

Versatile is arguably the largest manufacturer of low cost buildings in Australasia.

The company dates back to 1970 and is still privately owned with its head office in Christchurch.

It has manufacturing plants in Christchurch and Brisbane and its garden sheds are also manufactured under licence in Europe.

``Producing approximately 50,000 sheds per annum, Versatile is now the largest manufacturer of garden sheds in Australasia,’’ Mr Matheson said today.

Versatile’s timber-framed residential buildings are sold and constructed through a nationwide franchise network. The range includes garden sheds, carports, garages, sleepouts, cottages, homes and farm buildings.

Three years ago the company bought a steel building company in Australia and established the Totalspan brand which focuses on the rural and light industrial market.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news