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Sevcon drives up sales

Friday, May 8, 2015

A "global switch" to low carbon transport has led to a strong rise at Gateshead-based electric vehicle component manufacturer Sevcon.

Revenue for the six months to 31 March 2014 was $20.3m (£13.3m) compared to $18.2m (£11.96m) for the same period the year before.

Profit jumped to $956,000 (£627,453) for the same period compared to $906,000 (£594,636).

President and Chief Executive Matt Boyle said the results for the period are an "indicator of the performance we can expect for the foreseeable future".

"We believe that our traditional off-road industrial markets will continue to be a proxy for global economic trends, and we have initiatives underway to accelerate our growth in those sectors against that backdrop". he added.

Boyle said Sevcon's increased investment in its engineering and technical innovation has allowed it to forge strong partnerships with "some of the largest companies in the world".

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Source: Insider Media

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