Ceram on the acquisition trail after profits surge
MATERIALS technology group Ceram is on the lookout for acquisitions after delivering a 79 per cent increase in net profits.
Turnover at Staffordshire-based Ceram Group rose to £12.72m in the 12 months to the end of April – an increase of 8 per cent on 2011 figures.
Net profits increased 79 per cent to £717,000, and now the business is working with accountancy and advisory firm Grant Thornton to find suitable acquisitions.
The group specialises in materials, innovation and sustainability consultancy and testing across a range of sectors including medical devices, aerospace, defence, construction, ceramics and pharmaceuticals.
Ceram and its subsidiary CICS operate out of the group’s Stoke-on-Trent headquarters and the business also has an operation in Leeds as well as bases in Texas, New York State and South Carolina in the US.
The firm tests, analyses and develops new materials on behalf of companies across the world while CICS specialises in sustainability services such as verifying carbon and water footprints and helping businesses gain and retain ISO certification.
Ceram’s chief executive Tony Kinsella said: “In a way, the economic downturn has helped us.
“Companies are looking at ways of using less material or using different materials that can deliver more.
“They are also looking to save energy, reduce emissions and thus improve their sustainability. All of these help to cut spend, and demonstrating environmental responsibility is becoming an increasingly important marketing tool.”
Healthcare is now the group’s biggest sector after revenues increased 14 per cent over the period. Kinsella said this year’s figures are likely to be boosted by work on materials that release drugs in a controlled way and bone replacement implants that improve healing times.
The 20111/2012 US results were helped by a three-year, £640,000 contract to verify the emissions of airlines.
The Ceram Group employs 190 scientists and engineers, 140 of them in Stoke-on-Trent.
