IN BRIEF

■ For the 14th consecutive year, Haier Group has been ranked number one in the global, major domestic appliance market, according to the annual Euromonitor International report. According to the appliance manufacturer, it achieved this result thanks to sales of the brand’s smart solutions, such as refrigerators, washing machines, freezers, and wine coolers, across its Haier, Candy, Hoover and Hotpoint brands. Read more details at www.rdr.link/KAM004

■ Bathroom and kitchen manufacturer Grohe has announced a cashback promotion for select shower systems, running from March to June 2023, aimed at helping retailers give back to their customers. Consumers can claim up to £100 cashback, on eligible models, with the promotion available across more than 20 shower systems. Read more details about the promotion at www.rdr.link/KAM005

■ The Kitchen Bathroom Buying Group (KBBG) will hold its 2023 Annual Members’ Meeting on June 12, at the home of the Formula 1 British Grand Prix, Silverstone, in Northamptonshire. The AGM will offer the opportunity to hear from speakers, meet suppliers in a ‘Supplier Display Area’ and benefit from exclusive supplier offers, and network. There will also be the opportunity for guests to tour the Silverstone Museum. Read more at www.rdr.link/KAM006

Industry failing to employ apprentices

BiKBBI warns KBB industry failing to close skills gap

The KBB industry is not doing enough to overcome the installation skills gap crisis and immediate action is needed, was the stark warning issued by the British Institute of Kitchen, Bedroom and Bathroom Installation (BiKBBI).

Speaking at its annual conference at the QEII Centre in Westminster, London, chief executive of the BiKBBI Damian Walters said: “Despite the great collaborative work we have achieved in the creation of our fit for purpose apprenticeship – our industry is failing.

“Whilst pockets of great work and support exist, the industry is simply not doing enough to overcome this skills gap crisis, as a collective.”

He pointed to the plumbing and heating sector, which he reported had embraced the apprentieceship scheme and started to reverse its skills gap crisis, adding “we have hardly scratched the surface and we are nowhere near a place that makes me feel comfortable about the future of our sector.”

Following a national roadshow presenting to secondary school children about the opportunities in the KBB industry, Damian Walters said he attracted the attention of 350 school leavers who were interested in joining the industry.

“However, the tragic fact is that we, as a multibillion pound industry and with thousands of installers, manufacturers and retailers between us all, couldn’t create 350 apprenticeship vacancies.

“And the net result of this travesty is that 350 school leavers have embarked on careers elsewhere.”

He continued: “Let me add some context, that could have been 350 future businesses capable of installing 15,000 installations a year, over time.”

He called upon the industry to “wake up and smell the coffee”, unite and take immediate action, adding: “The familiar nodding and agreement needs to now progress through to reaction and ultimately the employment of real apprentices.”

Historically high net profit and highest turnover since 2009 RAK posts record financial results

Bathroom and tile brand RAK Ceramics reported record financial results for the year ended December 31 2022.

The company achieved a turnover growth of 22.9% to AED 3.52 billion, the highest since 2009, and an historically high full year net profit increase of 19.8% to AED340.1 million, versus 2021.

Growth was driven by an increase of 11% in tiles, sanitaryware which grew by 4.1%, tableware which was up by 38.9% and the consolidation of faucets (+AED 276.5 million).

In Europe, revenue increased by 3.5% year-on-year in 2022, while in local currency it increased by 14.5% year-on-year.

Given the slowdown in economic activity and despite price increases in 2022, RAK Ceramics stated the macroeconomic pressure weighed in on bottom-line performance; Q4 2022 financials.

However, the company stated it saw signs of relief, enabled by correction in exchange rates and decrease in freight rates.

During its financial results, RAK Ceramics also reported on the development of the company, with its tile enhancement project in progress and production set to begin in Q1 2023 for 5 million square meters of tiles.

The sanitaryware capacity enhancement has also been completed and production has commenced, with full additional capacity of 260,000 pieces by Q3 2023.

In addition, the company is working on shortlisting consultants and preparing the factory design layout for its Tile and faucet Greenfields Project.

Looking to the future market, Group CEO Abdallah Massaad commented: “We are monitoring the economic environment closely and remain focused on executing our growth strategy.”