Directors Report Year Ending Feb 2010
The business has had another excellent year with continued growth in both revenue and operating profit. Changes to Group structure have allowed management to focus on the core contracting business, building on our strong relationships with Tesco, Sainsbury, Marks &am[; Spencer and developing additional revenue streams with Coop.
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Another Successful Year in the Pipeline
Project First are again predicting a very busy year across all customers. The difference this year is that there has been a large swing from traditional R404A projects to CO2 projects. All of our customers have have ambitious plans to be out of HFC refrigerants by at least 2030 and we currently have in the order of 35% of our project this year being installed operating on CO2. This is great news and allows us to now start managing new suppliers in the supply chain with some commitment to volume and being able to align costs towards a HFC design cost base.
We have also invested heavily in training to ensure all the term are well versed in CO2.
