Fraserburgh-based freight vehicle manufacturer Gray & Adams has announced a sharp rise in turnover – with pre-tax profits sitting at £9.7million for the last financial year.
The family-owned business, which supplies trailers to most of the UK’s major supermarket chains, saw its turnover increase by 19% to £148.3million in the year to April 30, 2017.
The company also gained a proportional increase in profit of £8.1million to £9.7million – with net group assets increasing by £7.6million to £33.4million.
Mark Grant, group finance director, said the latest positive figures were “boosted” by additional orders which are not a regular occurrence.
He said: “These results are exceptionally good with increased sales in all our primary product lines. We are accustomed to building large quantity orders but this year’s results were boosted by a handful of large trailer and truck body orders that are not an annual occurrence.
“As a result, production levels across all our four manufacturing locations increased and productivity improvements have led to greater profits.”