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Record year for Gateshead's Sevcon as sales and profits soar

Wednesday, December 9, 2015

The low carbon innovator is taking advantage of the rapid moves toward electrification in the global transport market.

Innovator Sevcon has had a record year with annual sales rising 8.5% as it seizes opportunities in the rising demand for electrification in the global transport market.

For the full year to the end of September, 2015, the Gateshead company recorded turnover increase of $3.2m (£2.1m) to $41.1m (£27.4), while chalking up profits for the 12-month period of $1.9m (£1.3m), compared with $1m (£670,000).

Chief executive officer at the low carbon vehicle component maker, Matt Boyle, said: "We made excellent progress during the year on our growth strategy, and reported record financial results.

"Sales for on-road applications were up 41%, driven by our pursuit of high-value electrification segments.

"We also logged a record number of product shipments during the year, and rolled out constomizable technology solutions that we believe will provide 30% more value than traditional technologies."


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Source: ChronicleLive

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