Our Strategy
Recover, Rebuild, Resilience
TR aims to focus its short-term growth in industries where we already have a presence, and in high‑growth and sustainable sectors for the medium and longer term. We retain our strategic customer base where it is profitable
Our strategic direction
Following the announcement of our Recover, Rebuild, Resilience transformation plan, the business is seeing positive change and demonstrating operational and financial resilience through strategy execution.
We continue to effectively navigate the current global challenges and economic conditions by focusing on our key objectives of margin management, focused growth, organisational effectiveness and operational efficiency, all of which are supporting improved returns despite the mixed demand backdrop.
The following provides more detail of progress against each of our key strategic initiatives:
Margin management:
Strategic focus
- Pricing increases with low‑margin customers/products
- Procurement savings
What we’ve achieved
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Gross margin has increased by c.170bps on top
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Strong focus on Cost-to-Serve model, known as TRuProfit™, that will continue to grow in sophistication, enabling our commercial teams to have better data to craft excellent deals and challenge areas of margin leakage
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New tools implemented with our global sales teams using Power BI and data from D365 to better track margin at a customer level
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Commercial Excellence Director recruited to work on commercial efficiency, as pricing methods, controls and governance for sustainable margin growth
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Record commercial upside achieved through supplier rebates
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Increase in intercompany sourcing utilising our own global manufacturing capability
Our future focus
- As more of our regions move to D365, wider roll-out of margin tools to identify wins for margin improvement
- A modern procurement function delivering savings in direct and indirect spend
- Rapid sustainable and scalable quotation process to ensure governance, efficiency and clarity, delivering customer solutions.
Focused growth:
Strategic focus
- Profitable expansion of share of wallet with existing growth customers
- Target customer acquisitions in chosen market sectors
What we’ve achieved
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Appointed regional Commercial Directors to support operations
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Further developed sales force to pivot from product selling to solution selling
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Secured a major long-term supply agreement with leading smart infrastructure equipment customer
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Growth in markets such as India where we are positioned to win new business
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Winning business through our engineering strength, solving problems for our customers, resulting in high-margin contracts
Our future focus
- Open a new facility in Saudi Arabia to maximise new business and growth
- Accelerate initiatives to standardise global sales processes in readiness for a future CRM strategy
- Focus on development of our market share in key strategic markets and geographies
- Growth through acquisitions
Organisational effectiveness:
Strategic focus
- Health and safety environment and performance change
- Engagement, performance management, talent management and OneTR culture change
- Technology enablement
- Financial controls standardisation and best practice
What we’ve achieved
- A restructure of our UK business, moving key operational roles to the NDC in the Midlands
- The closure of our long-standing office in Uckfield in the UK and a move to new offices in East Grinstead
- The implementation of a shared service centre in Hungary creating global communities, sharing best practice and building our OneTR approach
- The launch of Project Ignite, implementing D365 globally as our single ERP with go-lives in Malaysia, India and the US
- Further progression on our health and safety focus with more protocols implemented to safeguard our people
Our future focus
- The completion of Project Ignite in FY27
- Further development of our Shared Service Centre
- The implementation of a new global HR system that gives us better data on our people and provides a foundation for building a people culture
Operational efficiency:
Strategic focus
- Supply chain optimisation
- Distribution and manufacturing efficiencies
What we’ve achieved
- Adoption of supply chain solutions to boost our offering to our customers as a core part of our value proposition
- Creation of Power BI tools to create self-service approach to gather insights on business and commercial performance
- OEE improvements in our TR Italy location
- New tools developed and implemented to track and monitor quality issues in real time, allowing for speedier mitigation
- Optimisation of our inbound freight, resulting in cost savings
Our future focus
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Utilising our data, powered by Ignite, to share information across departments and identify areas of efficiency.
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Making TR a more agile and profitable
organisation and more customer centric -
Expand our range of supply chain solutions available to customers and to further pivot from product selling to solution selling
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Gain further commercial upside through our own manufacturing
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Review of our global footprint
