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Steelite International has delivered record results for the third year in a row.
The leading ceramics manufacturer posted the milestone figures as it unveiled details of investment that will lead to more than 230 new jobs. 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 the company 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.
“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,” he continued.
Demand was helped in 2012 by three new ranges – Craft, Koto and Optik. Sales this year will be bolstered by Royal Crown Derby, as the new acquisition moves into the high-end hospitality market with new products and designs.
Steelite International employs more than 800 people, with more than 700 of these working at its Stoke-on-Trent headquarters. Next year, work starts on a new state-of-the-art 5,480 square metre production facility adjacent to Steelite International’s existing site that will create more than 170 additional jobs.
Kevin said: “That’s great for this city, it’s great for the industry and it’s great for Steelite International.”
