|02-02-05 15:37||News archive|
Drummond Designs defies housing statistics
Drummondville, February 2, 2005 - Coming off a robust 2004 in which its sales increased by 27% in Quebec and 28% in the United States, Drummond Designs, the fourth largest designer of architectural house plans in North America, defied statistical trends in the housing sector and shows no signs of slackening.
Statistics released by Canada Mortgage and Housing Corporation (CMHC), indicate a significant slowdown in the demand for building permits for housing start-ups in the province of Quebec in 2004. There were 19,073 such start-ups in 2004, compared to 18,233 a year earlier, an increase of only 5%. Over this same time span, Drummond Designs inc. saw its sales of housing start-up plans increase by 27% in Quebec and 28% in the United States, a whopping overall spike of 64% since Drummond Designs' new management staff took over in 2002.
« Our expansion in the coming years will be predominantly derived from the American market, where we have enjoyed an annual growth rate of more than 40% over the last three years, » remarked Yves Carignan, President and General Manager of Drummond Designs inc. « We are also going to lean on the ability of our network to respond to the growing demand in the renovation and plan modification sectors. Surpassing industry figures in Quebec by 20% clearly shows that the measures we undertook in 2002 to get our marketing strategies in order were not only desirable but crucial to our development as a company. »
The opening of outlets in Ontario, the United States and Montreal - later in 2005 - along with increasing the number of strategic alliances with some of the industry's major publishers, both nationally and internationally, are among the developmental initiatives planned by Drummond Designs to continue its revenue growth and profitability.
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