Hi
Please find details of Blackburn manufacturer MGS Technical Plastics' half year results. A photo of the directors outside their building is available here in dropbox.
Should you need more information, do come back to me.
Best wishes
Amanda
Amanda Jackson
Tigerfish PR
07881 621143
Strong half-year results plot MGS Technical Plastics growth to £10m
Rapidly growing MGS Technical Plastics, the Blackburn-based plastic injection moulding specialist, has revealed its half-year figures, showing that the company is well on the way to its £10m growth target.
With planning permission for further expansion submitted for approval and proposals to create more jobs, the company could reach its goal even sooner than hoped.
The accounts, which cover trading for six months to the end of September 2015, put the company on course for £4m turnover this year. This closely tracks the company's plan to expand to an annual turnover in excess of £10m within five years.
To meet these ambitious targets, MGS Technical Plastics has invested heavily in recent years. With support from Blackburn with Darwen Borough Council and Regenerate Pennine Lancashire, the company recently completed a £2m move to purpose-built premises.
Since then, it has spent more than £10m on new machines and specialist engineering equipment. Headcount is up to 40 and they plan to recruit 15 more within two years.
MGS Technical Plastics managing director, John Sturgess said: "It's an incredibly exciting time for our company, with unprecedented levels of investment being rewarded with sharp increases in sales. Our target of £10m turnover seemed a lofty ambition when we first made the commitment, but we've made great progress and all indicators are that we are actually ahead of expectations."
Sturgess said the main growth areas were the automotive sector, returning customers and reshoring - where skilled manufacturing work is brought back home to Britain.
"Over the last 12 months we have seen an increasing number of customers bring business to our home market rather than reach out to overseas suppliers," he said. "They now appreciate that we can provide better quality, quicker turnaround, lower transport costs and more convenient stockholding levels.
"Our customers are reassured that we're ‘just down the road' so they can talk to us personally and review modifications and improvements quicker than ever before."
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About MGS Technical Plastics
MGS Technical Plastics is a leading UK manufacturer of plastic injection mouldings, supplying a wide range of customers in a wide range of markets including medical, hygiene, security, safety, and electronics.
www.plasticinjectionmoulding.co.uk
Issued on behalf of:
MGS Technical Plastics,
Unit 7, Centurion Business Park, Blackburn, BB1 2QY
For press enquiries, contact:
Amanda Jackson, Tigerfish PR Ltd
01254 851 680
07881 62 11 43
amanda@tigerfishpr.co.uk