17.5% sales increase
THE region s manufacturing industry has been given a further boost as Ely-based manufacturing company Shearline announced a 17.5% increase in sales for the year ending March 2007. The company, one of the UK s few manufacturing organisations offering a c
THE region's manufacturing industry has been given a further boost as Ely-based manufacturing company Shearline announced a 17.5% increase in sales for the year ending March 2007.
The company, one of the UK's few manufacturing organisations offering a complete service including design for manufacture, prototyping and first batch production through to full scale manufacture also reported a strong improvement in profitability.
For the financial period ending March 2007, Shearline saw an increase of £1.23 million, giving a total consolidated sales figure for the year in excess of £8 million for the first time.
The company's news echoes that of the Chartered Institute of Purchasing and Supply's (CIPS) latest poll, which showed an index of manufacturing activity at 54.4 in March 2007, and reported that strong foreign demand has helped the UK manufacturing base record its twentieth consecutive month of expansion.
Kevin Gouldthorp, Shearline's finance director, said: "We're absolutely delighted to report this significant increase in sales. It's no secret that in recent years the climate for UK manufacturing has been particularly difficult, however, our results, coupled with the latest industry reports, prove that it isn't all doom and gloom in the manufacturing sector, particularly in the eastern region.
"We've put a lot of time, effort and investment into developing our core business strategy and we're confident that the company will continue to make significant progress throughout 2007.