SPECIALIST motoring firm Allied Vehicles says it is looking forward to reporting further growth next year, after posting what it called an excellent performance for the 12 months to April 30, including a 21.5 per cent jump in turnover.
The company, which sells and repairs vehicles with adaptations for people with impaired mobility, also highlighted its move into international sales despite a flat start in this area.
According to a Companies House filing, the company based in Glasgow's Possilpark saw its pre-tax profit on ordinary activities grow to £1.9 million, from £1m in the previous year.
Turnover reached £89m, and the firm wrote that rentals, parts, bodyshop and service departments "performed strongly during the year and we anticipate that this will continue."
In terms of sales outside the UK, it stated: "During the year we also appointed our first international sales development manager and after a slow start we are beginning to see orders from Italy, France, Spain, Germany and Israel."
The firm also noted the contribution made by its £750,000 Mobility Solutions one-stop shop. Catering for the mobility-impaired, it opened in Glasgow's Hawthorn Street in May 2013. The company praised its first ten month sales of £800,000.
The business also said that in January this year it secured a £7m finance package from Bank of Scotland, helping it roll out a chain of mobility shops.
Additionally, the firm wrote that during the year to April it opened a de-fleet centre (readying fleet vehicles for sale to the public), making the most of its bodyshop skills.
Operating profit reached £2m for the year to April, up from £1.2m 12 months previously.
No dividend is to be distributed for the year, with the retained profit transferred to reserves set to be £1.4m. Shareholders' funds amounted to £6.9m as opposed to £5.5m in the prior 12 months.
Administrative expenses hit £14.6m as opposed to £12.1m one year previously and cost of sales grew to £73.2m from £61.4m.
Staff costs increased to £10.9m from £9.1m as the average monthly number of employees moved upwards by 62 during the year to 432.
"Allied Vehicles continues to lead the market in wheelchair-accessible vehicle and taxi design, build and sales," the company said, noting that in the year its share of the UK motability market jumped by 40 per cent.
Looking at the current financial year, it said everything is in place to better the performance of the prior 12 months, with sales and customer appetite for its products both on the increase.
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