The catastrophic crash in the US banking sector in 2008 that lead to widespread problems in local financial markets has provided many challenges for local industry in 2009. For so many British organisations, the resulting economic downturn has proven to be a challenge too big and a record number of organisations have been forced to close their doors for good.
Individual sectors of the construction market have faced their own specific challenges. In the homebuilding sector, Government intervention has planned on an increase in homes being built but a shortage of buyers in the current market conditions has impeded such plans. Speedy construction, such as timber frame, facilitates cost-effective house building and aligns itself with Government plans although it is the nature in which credit is being obtained that is seriously stalling progress. In a nut shell, the difficulty in obtaining credit has had a direct impact on the number of houses being built and the number of houses being sold.
As a result, Fleming Homes (like most timber frame manufacturers in the UK) saw a reduction in production in 2009. The silver lining is that as a company we have been forced to reassess the way in which we operate to become even more competitive in an increasingly competitive timber frame market. All aspects of our operations were reviewed and widespread improvements were made to ensure we continue to impress our clients with a high level of quality and service.
2009 will be a year marked with great significance for Fleming Homes. It will be noted for the challenges faced and the improvements made and we believe that we are a stronger and more efficient organisation as a result. We would like to offer our sincere thanks to all those people we have worked with this year and wish everybody a very merry Christmas and a prosperous 2010.
Thomas Fleming
Managing Director
