Profits race ahead as Armitt enters motorbike market
FRANK Armitt & Son, the shipping services company, saw its fortunes continue to revive last year as profits and sales saw good growth and it diversified into motorcycle distribution.
The Runcorn-based company, which in 2009 saw turnover slump 30% as the recession hit its income, saw growth in all part of the business as revenues rose 32.6% from %50.9m to £67.5m – higher than its pre-recession levels.
Having returned to profit in 2010 after a 2009 loss, it continues its forward momentum as earnings jumped from £357,409 to £614,690.
In his review of the group’s performance finance director Charles Gray said the growth in sales and profits has been “driven by continued progress in improving efficiencies and focusing on customer service.”
Founded in 1950 and owned by the Armitt family, the company provides a range of marine transport-related services, from shipbroking and forwarding agents to cargo handling to warehousing. One subsidiary, North West Stevedores, operates at Garston Docks, Liverpool.
Another part of its business, is Widnes Steel Store which is the designated automotive steel shipment store for the car plants at Halewood and Ellesmere Port operated by Jaguar Land Rover and Vauxhall.
The most recent string to the group’s bow is in motorcycle distribution where a new division, Armitt Leisure Supplies was set up last year and is sole distributor of AJP Motorcycles.
Mr Gray said the fledgling business had made “significant progress” in the first quarter of this year and was now trading through a partnership of 10 dealers across the country.
