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Safety switch maker increases profits by 57%
A
Mechan Controls product story
Edited by the Manufacturingtalk editorial team
May 31, 2007
UK manufacturer of electronic non-contact safety switches has reported a 57% increase in its gross profits and a rise in turnover of 12.6% along with an increase in shares' earnings.
UK-based manufacturer Mechan Controls has reported a 57% rise in its gross profits.
The company said it is its sixth consecutive double digit profits rise.
Additionally, Mechan Controls' turnover indicated year on year growth - 12.6% over 2005 - to GBP 684,000.
Profit for the year, after tax, was GBP 70,630.
Operating profit and net profit had also grown.
Earnings per share had risen from 3.3p to 3.5p/share.
* About Mechan Controls - Mechan Controls had been floated on the Ofex market in 2004.
It is now called 'PLUS'.
It is one of only a small number of North West UK companies that use Europe's independent public market, which specialises in SMEs.
Based in Skelmersdale Mechan Controls is a world leader in manufacturing electronic non-contact safety switches.
Commenting on the firm's results, managing director, Wilf Boardman, said: "We have exceeded our growth targets for the first quarter of the current year with order intake up by over 5%.
The international market in safety products is very competitive but nevertheless is still a growth industry." He said: "We are committed as a company to increasing our research and development efforts with the intention of retaining our leading edge in our high-tech market.
With exciting products in the pipeline and further strategic international partnerships on the horizon, we are confidently looking forward to another good trading performance." Established in 1973, Mechan Controls has 11 staff at its Stanley Industrial Estate premises in Skelmersdale.
It has an international reputation for its F-Series, Codex, Isis, Magasafe and SSS products, which are used in industrial machinery.
Boardman led a new management team that took control of the business in 1999.
Its customer base now includes many 'blue chip' companies in the food processing, packaging and building supplies industries.
Mechan has a firm footing in the North American market with distribution agreements with STI, the market leader for safety products in the USA, and Honeywell, its new strategic partner.
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