Lf Fasthouse Ltd

Principal Activity The principal activity of the company is the design, manufacture and erection of timber frame buildings. Fair review of the business The company reported an operating loss in the period of £348,577 (2020 - £1,872,160) on a turnover of £18,398,453 (2020 - £14,375,891). Despite the Covid-19 pandemic leading to market uncertainty and government enforced construction site closures in Ireland during the early months of the year, the sale of timber frame kits increased significantly, driving both an uplift in revenue and reduction in operating loss. Sales of composite panels remained strong and were largely in the line with the previous year. Demand for timber frame housing has continued to grow in 2022 and we are confident that the company is well positioned to best avail of opportunities presented by the markets in which it operates. Principal risks and uncertainties The full potential effect of Brexit and the Covid-19 on both the company and the material supply chain remains uncertain. Material availability and prices could also be impacted by the ongoing crisis in Ukraine. Management are confident that they have, as far as is possible, taken appropriate steps to mitigate these effects. Timber frame sales volumes will be impacted by the UK and Irish housing markets and by other social economic factors. Foreign exchange rate movement could affect price realisation and margin on sales to the Republic of Ireland. The company continually reviews its criteria for investment and business development and will adapt to changing market conditions. Key performance indicators Due to the nature of the company's business, financial performance is reviewed and monitored at project level rather than on an aggregated basis. Non-financial performance measures for timeliness and quality of factory and site construction activities are recorded, monitored and reported at project level. Environment and Corporate Responsibility