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Ashby Trade Sign Supplies has begun passing on reductions to customers as the market stabilises
Following a volatile period within the market, Ashby Trade Sign Supplies has revealed it will be passing on reductions to its customers once more.
The company cited a credit crunch, price increases, the cost of living, interest rates, inflation, Brexit, the global pandemic, the war in Ukraine, and energy prices as all having contributed to a volatile market.
As a result, Ashby, like many other suppliers has been forced to pass on the cost of raw materials.
“As a manufacturer of aluminium, we have seen the cost of raw materials double in the last 18 months, and with an annual purchase of over 400 tonnes of aluminium sheet and extrusions, it’s something that we sadly had to pass on,” the company explains.
“We fully understand the implications of raising prices out of necessity, something that we, along with everyone else in the industry have had to do to keep the doors open and the products flowing.”
The company says it even found itself in a position for the first time ever where quotes were only valid for 30 days due to the instability of global markets, and cost rates for raw materials changing on a daily basis.
Despite having to pass on the price increases of raw materials to customers, Ashby was able to manage all other costs through investment in machinery and processes, streamlining its production facility and upgrading its systems and IT infrastructure.
The company also ensured its running costs were kept to a minimum, ultimately reducing its overall profit.
“As our costs went up, we promised that we would not profiteer and raise our prices to make more money, and as soon as was commercially viable, we would reduce our costs and pass any savings back to our customers,” the company continues.
“Finally, it would appear amidst all the doom and gloom the global markets are starting to stabilise, and we are more than happy to announce that this saving is being passed on to you, our customers.”
Looking to the future, Ashby says it will continue to carefully monitor its prices and continue to pass on reductions as they become available.
“To end, we would like to thank all our customers for their understanding through these difficult times,” the company says.
If you have any news, please email carys@linkpublishing.co.uk or join in with the conversation on Twitter and LinkedIn.
