Superdad scheme still going strong.
Superglass profits drop
Published: 04 December, 2009
SCOTLAND: Insulation company Superglass, the only independent manufacturer of mineral wool insulation in the UK, reported a large drop in annual pre-tax profits.
The company made £633 000 in the year to August, compared with nearly £3m in the previous period.
The company said the recession continued to make trading conditions challenging, although it had weathered the downturn well.
Superglass blamed the decline in demand for newbuild private housing for its sales fall but said it expected to benefit from an extension in the Government's carbon emissions reduction target.
This obliges energy companies to take steps to reduce the amount of CO2 emissions from homes. Superglass said one of its key initiatives during the year was the Superdad scheme with Scottish and Southern Energy. It allows customers to buy discounted insulation through builders' merchants and the company said that early indications suggested it was working well.