Automotive supplier forecasts continued strong growth
Automotive supplier Autins Group has forecast continuing strong growth for the current year based on high demand from its principal sector.
The Warwickshire company, which manufactures and supplies acoustic and thermal insulation, told its annual general meeting it expected the trend from the end of 2017 to continue, although with a bias towards the second half.
Group chairman Adam Attwood told the meeting: “We delivered strong top line growth in FY2017 and are seeing this continue during FY2018 although still very much re-iterating that we expect a significant second half weighting to results.
“FY2018 is a year where we will see significant progress for Autins as we continue to take on many challenges and opportunities to better secure a robust business model that can be scaled efficiently and deliver growth profitably and sustainably.
“Our Neptune product is gaining momentum and further traction in the market, our operations are focused on improving productivity and customer service, and we are increasingly on a path to working as one company in everything we do.”
It is now almost two years since the company saw its value cut by a third after former chief executive Jim Griffin quit when the business revealed a major customer had revised order volumes.
Since then a new management team has been drafted in to turn the company’s fortunes around.
“The board remains confident in our strategy and the management is focused on deploying our detailed business plans. We are all committed to realising the full potential of the group,” added Mr Attwood.
The company will release its interim results for the six months ending March 31, 2018 in June.