VPhase sales surge 292%
ENERGY saving device manufacturer VPhase says that despite a tough environment and margin pressure demand is picking up strongly.
The Cheshire company told shareholders at its annual meeting that in the 20 weeks of 2012 total sales are up 292%. and volumes 333%, higher than the corresponding period in 2011.
Chairman Vanda Murray and chief executive Rick Smith said demand in the social housing sector, which has been the main driver of growth, remains strong and continues to grow.
They said:”Margin pressure continues but the company is in the process of establishing its low cost manufacturing capability which should, once implemented, return margins to expected levels later in the year.
“Despite the difficult economic environment, the company has delivered significant sales growth, has a strong order book of over £200,000 and a significant pipeline of potential orders.”
Capenhurst-based VPhase – which has invented a voltage optimisation device which cuts household electricity bills by as much as 12% – said that while the timing of orders is difficult to predict, the coard remains satisfied with progress so far this year.
It added that it had delayed its product with Enact Energy on the Tesco website pending the clarification of whether voltage optimisation is included in the government’s Green Deal.
