Southern Springs and Pressings posts record sales and profits
South of England based spring manufacturer, Southern Springs and Pressings Ltd, has achieved record turnover and profit for their last financial year.
The company has generated an increase in turnover of 12% in 2016/17. Pre-tax profits also increased by 20%.
Following a great start to the UK manufacturing sector as a whole, the success of SSP has seen orders increase throughout the last 12 months. In response to this, they’ve invested heavily in the business with the purchase of new equipment and machinery. Their latest purchase was a new power press machine, the new 55 ton Chin Fong power press and ancillary equipment will produce various products at up to 120 part per minute and will support the increase in sales.
They have also invested in a bespoke IT system enabling them to enhance the production process across the business. The new IT system will ensure they can keep track of all their customer orders and stock levels with the information updated and displayed throughout the factory,
Tim Page, Managing Director said “We’ve had a fantastic 12 months which has been the result of some hard work and team effort. On the back of this, we have invested in the business and look forward to another successful year”.
Copyright 2014 The Olden Group Ltd. 21 High Street, Barnstaple, Devon EX34 8EG