Derbyshire firm generates turnover rise after successful year
Derbyshire’s WB Power Services has announced a 17% increase in turnover, jumping from £44.5m to £52.3m in the 12 months to 30th April 2022.
Profit margins rose at the Heanor-based firm, increasing by 5% to 29.3% (£3.5m to £5m) across the same period. The rise has been attributed to the business continuing to attract large projects and increasing its hire fleet supported by an ongoing investment programme.
WB Power Services hire division has been the focus of reinvestment, which has also benefitted from being awarded two “significant” new contracts in the power utilities sector. In line with a 10-year growth plan, the business has also invested in land and buildings which will form part of the company’s new depot in Leicestershire.
Managing director Andrew Willmott said: “These results show we are very much on track with our long-term focus on growth and increasing the support we can give key sectors with the provision of emergency power.
“By the end of this year alone we will have invested £9 million for rental and industrial generators as part of the Stage V programme to reduce emissions. We are also focused on continuing to expand our presence in the UK with plans in place to open additional depots to ensure we continue to provide the critical power solutions our customers need. This will result in additional job opportunities and investment in several regions across the UK.
“We are a reliable partner for a range of industries spanning datacentres, utilities, construction and healthcare, working to provide emergency and long-term solutions to prevent issues as a result of power loss 24/7. 2023 is a significant year for the business and we are confident that our strategy will not only support our own expansion but will help us to continue to offer support to multiple sectors.”
