SCP Pool Corporation, Covington, LA, reported an 18% sales increase to $241.8 million for fiscal year 2005. The wholesale distributor of swimming pool supplies and related accessories reported record net sales and net income for 2005. Profit was up to $83.6 million, compared with $66.9 million last year.
Base business sales growth of 14% contributed $180.4 million to the increase due primarily to the growth in the installed base of swimming pools and 32% growth in complementary product sales. The remaining increase in net sales is attributable to acquired service centers, including the Horizon branches acquired in October 2005.
In the fourth quarter of 2005, net sales increased $89.9 million, or 43%, to $299.8 million, compared to $209.9 million in the comparable 2004 period. Gross profit margin increased 90 basis points to 27.8% in the fourth quarter of 2005 from 26.9% for the same period last year.
Currently, SCP operates more than 240 service centers in North America and Europe, through which it distributes more than 100,000 national brand and private label products to roughly 68,000 wholesale customers.
