As 2022 drew to a close and we reflected on the year that was, we were reminded of the uncertainty our sector faced.

After Brexit, then Covid, we could be forgiven for hoping for a period of stability. Then Ukraine happened. The resultant instability in markets resulted in further cost increases in both materials and energy. Margins were squeezed and we were forced to implement a second price increase into our markets.

The UK Government then announced a mini-budget which massively shook the markets. In quarter four, lenders stopped lending and inflation hit a 40 year high. I’m sure we have all felt the effect of this every time we go shopping. Consumer confidence is low and we have seen an impact on demand for roof windows. The CPA is forecasting 9% reductions in activity levels in our sector in 2023.

So, doom and gloom in the markets but in typical Keylite fashion we dig in and respond positively. We have continued to adopt a long term approach to decision making, investing in automation that enhances our agility to flex to a roller-coaster demand environment.

Similarly, we have carried out extensive work on improving the sustainability of our operations and put a focus on product circularity. Over 96% of the materials used in our roof windows are recyclable at end of life and we are working towards 100%. Meanwhile, our Operations and Customer Service teams achieved new heights of service excellence; OTIF was over 99% in Q4 which, without taking anything away from the achievement, illustrates the level to which the supply environment has normalised.

Our three industry award wins in 2022 are testament to both our customer facing and back office teams who work hard to provide the great Keystone Group service day in, day out whatever the (political) weather.

As we enter 2023, there is a recognition that the market will be tough. We can’t set the market but we can focus on the things that are in our control. We will strive to continue to support our merchant partners with innovative products and a high quality service proposition.