Ceramics maker Steelite bucks trend with sales growth

 
Staff|Agencies25 April 2013

Ceramics manufacturer Steelite dished up a strong growth in sales today, bucking the trend as the rest of the economy wallows in the doldrums.

The company announced sales of £70.2 million for 2012, up 6% from the previous year's £66.3 million.

But pre-tax profits were down from £7.9 million to £7.2 million after it last year acquired Royal Crown Derby, the historic bone china manufacturer.

Steelite also set out details of previously-announced plans that will lead to 230 new jobs.

It currently employs more than 700 people at its headquarters in Stoke-on-Trent, with 60 more to be taken on when an extension is completed by the end of the year.

Work is due to begin in 2014 on a brand new, adjacent production site that will create more than 170 additional jobs, the firm said.

Chief executive Kevin Oakes attributed much of its success to overseas customers in 130 countries, representing 80% of Steelite's turnover, who saw "real value in the Made in England backstamp".

Last week, the privately-owned firm was recognised with a Queen's Award for Enterprise in the international trade category.

Its clients include hotel chains such as Hilton and Four Seasons as well as pub and restaurant chain Whitbread and P&O Cruises.

The results come against a background of gloom elsewhere in the economy with gross domestic product figures expected to give little cheer.

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