FORT November Newsletter - 2023
27 November 2023
The clocks have changed, the trees are getting bare and the weather is awful, but there’s no shortage of cheer here at FORT as we continue to develop and grow, with more to come through November as we give the shop a re-vamp.
Away from the office we were delighted to be invited to Kyle Howarth (captain of the British Speedway Premiership’s champions Sheffield Tigers) sponsors’ dinner and a morning on the gallops with Nicky Henderson looking at the form of Spring Note ahead of the new jump season. We of course wish all of the teams and causes that we support the best of luck in everything that they do!
Despite the awful economic and global state of affairs, there still seems to be decent workloads around for our Customers, but we can sense that things will be slower overall.
Clients appear to be looking for ways to take costs out; there is a lower level of orders and new project pricing. In other words the general indicators seem to be showing a decline in activity, which is not a surprise, with interest rates at higher levels. However, employment is still very high and there are plenty of other positive indicators.
Volume newbuild is where the sharpest declines appear to have occurred, while repair maintenance and improvement continues to hold up reasonably well. Softwood timber represents the vast majority of timber trading and so the last International Softwood Conference was packed full of information that helps to forecast where the market is heading (see Timber below). FORT is still growing and we’ve made a series of improvements to internal operations which will help to maintain our high Customer Service levels. Kitchens & Bathrooms are becoming an increasingly decent proportion of our overall business. With our excellent showroom at Membury, we can help you to assist your clients in selecting the right design and products to give their homes the ‘wow factor’ that they’re looking for.
General Availability & Price Update
Our roundup of key indicators is shown below:
Currency - While the £ is still ahead of a year ago (when Trussonomics arrived!) it is down on a high of $1.31 back in July. The slight recovery reported last month has fallen back and it’s the same with the Euro. All of this makes a slight impact on many imported goods, along with fuel costs.
Containers - China’s economy has slowed and global demand is down, all of which heavily reduces demand for containers and rates have fallen yet again during October. This is all helping to contain product costs, but is a sign of lower global demand..
Steel Bar - Steel prices have risen again during October and with the $ effect on top, it makes steel prices go up, albeit only slightly. This appears to be quite a large change in a month.
Timber - There’s simply too much timber chasing too little demand. Prices remain very soft. The International Softwood Conference held in October confirms that demand is weak. One ‘take out’ piece of information is China, where official figures declare around 7 million empty new homes, which doesn’t sound great, until you read of an ex-official stating that the actual figure is hundreds of millions of empty homes! Inevitably this will have a long term impact.
Inflation - After seeing a high of over 13% it makes 8.9% look low! These are still historically high rates but everything seems to be pointing towards a continuing fall. Bank base rates have been held again at 5.25%and while this has shocked the economy, as time moves on that level will be seen as being ‘normal.
Now Stocking A Range Of C-TEC Products!
The ever growing and popular brand - C-TEC has hit the shelves (and website) at FORT. The new range of sealant & adhesive products can be found on our website or on your next visit to our shop. CT1 Sealant & Adhesive 290ml (range of colours) - offers excellent adhesion onto virtually any material and without the need of extra fixings. Being 360% stronger than traditional Hybrid Polymer and made with TRIBID technology offering fantastic resistance to chemicals & fungal/bacterial growth.
Real Deals For You This Christmas
It’s that time of the year again and we’re kicking things off early with our Real Deals For You Christmas offers for 2023! A fantastic range of tools and sundries at reduced prices when compared to the RRP, you can see the full range on our website by clicking this link or pop in store to see the full stock of items.
A huge range of products available, such as;
- Bahco 24 Piece 1/2inch Drive Socket Set £65.99
- Faithfull 16 Piece Long Impact Bi Set in Case £19.99
- Dewalt 25 Piece PZ2 Impact Bits Box £13.99
- Irwin Quick Grip 300mm (12inch) Clamps, Twin Pack £25.00
- & much more!
As always, please do not assume stock availability - check with the sales office!
Our reputation relies on word of mouth and testimonials from our valued customers, and as such we'd love for you to share reviews of your experiences with us on either Google, Facebookor TrustPilotif you have the time.
Thank you very much for your ongoing support of FORT!
Best regards,
Matt, Tim & Keith
The Directors