A Warrington-based manufacturing company which works in the automation, mobile and renewable energy industries has hailed the “very encouraging” signs for 2018 after posting a rise in both revenues and profits.
Bonfiglioli UK is part of the wider group of the same name. Its UK arm comprises two divisions; industrial and distribution, and mobile and wind. The former’s operations are based in Redditch.
For the year to 31 December 2017, the company reported turnover of £27.8m compared to £23.2m the previous 12 months.
The majority of this was courtesy of UK income – £26.2m – while European sales amounted to £1.44m. Revenue from the rest of the world was £147,819.
Pre-tax profits were also up from £509,446 to £895,672.
The mobile and wind division was boosted by a “very satisfactory” performance, with demand for construction equipment growing. The market is expected to remain strong throughout 2018, although there is a risk of limiting factors such as the supply of raw material and pricing.
The industrial arm enjoyed a “good year” with continuing growth, while distribution proved to be a period of consolidation.