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Steelite International deliver record results
26 April 2013
Steelite International has delivered record results for the third year in a row.
For the third year running Steelite International broke its turnover record with sales of £70.2 million in 2012 – up six per cent from £66.3 million in 2011. Revenues were helped by strong performances in Eastern Europe, South America and Asia, as well as a 13.5 per cent rise in the U.S.
Pre-tax profits stood at £7.2 million for the year, down from £7.9 million because of costs related to expansion plans and the acquisition of world-famous brand Royal Crown Derby.
Kevin Oakes, Chief Executive at Steelite International, said: “It’s been a truly incredible year for Steelite International, and I’d like to say a huge ‘thank you’ to everyone involved.
“The commitment and passion of the team here and overseas has been a real driver for this growth.
“We sell into more than 130 countries, and more than 80 per cent of our turnover is from export markets. I have no doubt that’s largely because we manufacture in the UK.
“Our overseas customers see a real value in the Made in England backstamp. It’s not just about the quality and design, it’s about the integrity of the business as a whole – the service we offer and the fact that we stand by our products and our values.”
Steelite International employs more than 800 people, with more than 700 of these working at its Stoke-on-Trent headquarters. That will rise by 60 when a 2,000 square metre (22,000 sq ft) extension to the dish-making unit is completed by the end of the year.
Next year, work starts on a new state-of-the-art 5,480 square metre (59,000 sq ft) production facility adjacent to Steelite International’s existing site that will create more than 170 additional jobs.
Mr Oakes said: “That’s great for this city, it’s great for the industry and it’s great for Steelite International.
“This is such an exciting time for the group, and the plans we have for both Steelite International and Royal Crown Derby are really innovative.
“Everyone who has contributed to our success in 2012 should feel a huge amount of pride, and I fully expect 2013 to be another exceptional year.”