Revenues soar for industrial services provider
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Ainscough Industrial Services (AIS) turnaround has helped to push revenues to more than double.
The Wigan industrial services provider has reported a 63% increase in revenue, with turnover rising from £16.85m to £27.5m at the end of the 2020/21 financial year.
Specialising in all aspects of industrial services, including lifting and moving of assets and equipment, factory moves and decommissioning, machinery removals and industrial installation, the company has supported customers across a wide variety of sectors in adjusting to altered trading and operational conditions during COVID-19.
The company’s AIS Vanguard business, which has seven UK locations, has seen growing demand for the skills and lifting equipment it can provide.
The successful AIS Vanguard model has been replicated with a European joint venture business, AIS EURELO.
Established to extend AIS’s offer across Europe and specialising in cross-border industrial moves, AIS EURELO has trading subsidiaries in Essen (Germany), Lodz (Poland) and Olomouc (Czech Republic) as part of a 50% owned internationally focused business.
Meanwhile, AIS’s wind turbine installation, decommissioning and maintenance business, AIS Wind Energy, has achieved sales of £8.45m following its first full year of trading.
Ainscough’s CEO Matt Ainscough said: “This year has seen a real turnaround for AIS, following several years of rationalisation to remove loss making parts of the business.
“We have also seen a real change in client investment behaviour.
“Following several years of low levels of capital investment in machinery, driven by Brexit indecision, along with a slight hiatus prompted by the first COVID lockdown, it’s clear that confidence is rising, which has led to a sustained increase in demand for our machine moving and installation services throughout the UK, Europe and beyond.”
Looking ahead, AIS predicts continuing strong demand for its services across a variety of sectors, thanks to market buoyancy spurred on by post Brexit investment, changes in product and production technology, investment in green energy and a variety of other industry-specific factors.
Matt added: “We have already secured 51% of the current year’s group budget within the first two months of the financial year and have begun the 2021/22 financial year with raised confidence and optimism after last year’s results.
“It’s testament to the hard work, skills and loyalty of our team who have continuously gone above and beyond for the company and our clients and we look forward to sustaining that service-led approach as we continue to grow.”