TIMco nails it with £20m revenue
FAMILY-owned tool company TIMco has broken through the £20m revenue barrier.
The Nantwich, Cheshire firm reported a 29% increase in turnover thanks to a programme of better buying and organic growth achieved by sourcing new and diverse product lines.
Its success has allowed TIMco to improve its offer and the availability of stock it is able to offer customers and has launched a quest for further expansion which will see additional 34,000sq ft warehousing built to hold a further 72,000 pallets.
The company has increased its product lines by more than 13% to nearly 5,000 as well as offering a complete range of fixings, fastenings and power tool accessories, the company has launched, VETO, a security solution, in addition to a new range of circular saws, driver bits and other ancillary products required by distributors.
Managing director Simon Midwood said: “These are a great set of results that take us over the £20m mark for the first time.
“With a more diverse product range and an increase in our stock holding we are able to widen our customer base and service new markets.
“The business is well placed to continue this level of growth and we intend to further extend our range and reach in the UK.”
The company was established in 1970 and now employs 88 staff in its offices in the UK, Ireland and Taiwan.
