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Tanfield organic sales climb
Sat, 04 Feb, 2012
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Tanfield organic sales climb
Mon, 25 Sep 2006, 08:49:00
Tanfield Group
, the engineering firm, announced strong sales in the first half on the back of organic growth but said a recent acquisition would help boost results.
The group said turnover rose nearly 60% to £16.5m for the six months to June from £10.4m a year ago, almost entirely from organic growth, while pre-tax profit before restructuring costs and goodwill totalled £1.94m compared with £0.19m last time.
Tanfield said its acquisition of UpRight, which was completed in June, had only a limited impact on sales figures in the reported period but is now delivering a solid contribution to the group.
UpRight has trebled the number of sales outlets for its existing Aerial Access brand while order intake accelerated in the first months of ownership to a level four times that of the UpRight business at the point of acquisition.
The group is experiencing strong interest in its zero emission products, said Tanfield and is therefore considering its options with regard to the potential for leveraging products into other markets.
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