Employee-owned Leeds manufacturer reports most profitable trading year ever
Union Industries, the Leeds-based manufacturer of Rapid Roll Industrial Doors, has announced its second record sales year in a row and most profitable trading year to date.
The manufacturer’s results for the 2016/2017 financial year included a £7.4m turnover, an increase of around 27% from the previous year, with a profit of £1.1m.
A proportion of the company’s profit is distributed as an Employee Ownership bonus and shared equally among full-time employees.
This amounted to a tax-free sum of £3,600 for each employee, regardless of their position in the company.
The company, which invested £350k in new machinery, has also became a main supplier of doors for Lidl’s retail distribution centres across the country. It has also enhanced its service offering, increasing the number of blue-chip companies that the company works with.
Since transitioning into an employee-owned company almost three years ago, Union has seen increased demand in it’s Lifetime Warranty scheme.
Available on the majority of the high-speed Roller doors, the scheme, and the after-sales offering, has led to growth in the company’s service and installation departments. To support this progress, Union has hired eight more staff over the course of the year, bringing its total headcount to 75.
Andrew Lane, managing director of Union Industries said: “Union’s half-year results suggested that the company would be on track for a successful year and our final results have not disappointed.
“Our increased service offering has significantly contributed to our record year, but it’s also down to hard work and our team being proud of and believing in our employee-owned company.”
“Union is at the heart of British manufacturing and works closely with other like-minded companies to build our presence across key markets. We have been able to this by delivering the best possible service, constant innovation and a commitment to the highest quality.
“This is borne out by the growing number of repeat customers we engage with on a regular basis.”
Paul Schofield, former owner and current chairman of Union Industries Employee Ownership Trust, added: “Union Industries has established itself as a Great British manufacturer and the year-end results only strengthen its position at the forefront of the market.
“Making the decision to transition into an employee-owned business has added a unique element to the company. Everyone at Union is personally invested in its future and we have gone from strength to strength ever since.”
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