Bolton-based Homespares reveals ‘ambitious’ growth plans

Appliance parts supplier Homespares has announced plans to increase its turnover by £2.5m and embark on a recruitment drive in 2016.

The firm is expecting its turnover to rise from £4.2m to £6.7m due to a series of board changes, new exclusive distribution rights and plans to expand its Bolton-based team.

Since August last year, when Homespares appointed Kirk Whitehead as its new managing director, the company has seen its profits rise by 20% month on month, with sales up by 46% year on year.

Commenting on the growth, Kirk said: “We have set ambitious growth targets for 2016 but I’m confident we have the foundations in place to meet them.

“Our market share is growing, our employees and business partners are excited by the new stage of growth, and our plans for the future reflect the positivity we’re getting from customers, both loyal and new.”

2015 also saw Homespares become the sole distributor for home appliance manufacturer Severin.

Kirk continued: “The launch of Severin – which has a 60% market share of the home appliance market - is a massive step forward for us, the range is extensive and covers everything from food to cleaning.”

Founded in 1962, today Homespares supplies over 1m spare parts for around 5m home appliance models.