Profits soar at cooker maker Glen Dimplex
GLEN Dimplex Home Appliances, the company behind well-known cooker brands such as Belling, Lec and Stoves, recorded a sharp increase in profits last year.
According to newly-filed accounts for the year to March, the Merseyside-based firm increased revenues by 9.4% to £128.4m while pre-tax profits jumped by 36% to £9.3m.
During the period the company, which employs around 1,000 people in Prescot, increased shareholders’ funds from £51.4m to £56m.
In a brief statement the directors said: “It is the intention of the directors to continue to develop the principal activities of the company and to identify areas with further growth potential. The company is engaged in ongoing research and development work in order to improve its product range and to increase its market share.”
In recent years GDHA has brought production back to Britain and has seen sales helped by the fact that British manufacturing is still associated with quality goods. The company won the North West Exporter award at TheBusinessDesk.com’s Business Masters awards in April for pushing into new overseas markets such as Australia and Russia. In the year to March UK sales still accounted for around 90% of revenue.
GDHA’s ultimate parent company is Northern Ireland-based Glen Dimplex Ltd which has sales of around £1.5bn and a total workforce of 8,500. The group is led by chief executive Sean O’Driscoll and owned by Martin and Carmel Naughton. The wider group owns a large number of brands such as Morphy Richards, Roberts Radio and Valor.
