Turnover rises to £224m at stairlift manufacturing firm
A Bradford-based stairlift manufacturing company has topped £224m in revenues during a year it concentrated on further growth.
Acorn Stairlifts, which is also a retailer of home stairlifts, has reported on the year ended September 30 2018, stating that the global stairlift business made £224.4m in the 12-month period, up by 6% on the £211.7m it made the previous year.
Pre-tax profit for the period stood at £22.2m – up from £20.5m the previous year.
The company – founded as a one-man operation in Bradford in 1992 – now employs 1,536 people worldwide, up by 51 on the previous year. More than 500 work at or from its head offices and factory on the Millennium Business Park in Steeton, near Keighley.
The latest report shows that export sales of Acorn’s British-made stairlifts continue to account for almost 71% of its global income. The company exports to around 80 countries worldwide and has wholly-owned subsidiaries operating in Germany, Italy, South Africa, Australia, New Zealand, Canada and its largest overseas territory, North America, where it is the market leader for home stairlifts.
Acorn said that despite uncertainty around Brexit, it was “not expected to have a significant impact on the business” because 85% of Acorn’s total revenue is derived within the UK or from other non-EU countries.
Acordn added: “Even so, the business has taken the prudent step of increasing stock levels in Europe to mitigate against any short-term disruptions to the supply chain which might arise from Brexit.”
Acorn’s Group Finance Director Joanne Richardson said: “This is another encouraging set of annual figures which reflect Acorn’s commitment to building sustainable growth in both our domestic and export markets. Acorn continues to experience record-breaking worldwide sales, supported by our rising company headcount.”
