ALBION Automotive has narrowed losses during a year which the company said saw truck market sales return to pre-2014 levels.
Glasgow-based Albion, which manufactures axles for buses, trucks and cars, booked a pre-tax loss of nearly £2.5 million in 2015, accounts newly available at Companies House show.
The company, which is ultimately owned by Detroit’s American Axle & Manufacturing (AAM) Holdings, had lost £4.6m the year before when it cited the impact of changes in European regulations on diesel emissions for trucks and buses.
Albion narrowed losses in 2015 on the back of 22 per cent rise in sales to £37.2m.
“This was due [to] the truck market sales returning to pre-2014 levels, where sales were affected by the implementation of environmental upgrades with the Euro 6 introduction.
“During 2015 the passenger car and construction markets remained strong.”
Albion notes in the accounts that it continued to make progress in managing costs during the year. It said the introduction of lean manufacturing systems in 2013 has allowed it to “eliminate waste and reduce costs” while minimising the impact on quality.
The company employed an average of 164 staff last year, up from 155 in 2014, while wages and salaries were booked at £5.2m, up from £4.3m. The highest-paid director received emoluments of £186,000, according to the 2015 accounts, compared with £179,000 the year before.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel