Turnover has topped £200m and profits have grown at materials handling equipment supplier Briggs Equipment.
The company, which is the exclusive UK distributor of Hyster and Yale forklift trucks, generated revealed of £204m in the year to 31 December 2017, new accounts have revealed, up from £179.1m 12 months prior.
Briggs said the hike was “significantly underpinned” by major contract wins in the ports and terminals market, as well as an overall increase in market share.
It was also bolstered by the strength of its engineering service business.
Pre-tax profit for the period climbed to £3.3m from £2.4m in 2016, while overall income more than doubled to £2.4m from £1.1m.
During the financial year, Briggs Equipment launched a five-year strategic plan, targeting growth and diversification.
As part of this, the business entered into a dealership agreement with Hako Machines, a manufacturer of outdoor and indoor cleaning equipment, in June 2017. The following month it acquired Irish Industrial Life Trucks Ltd, based in Dublin.
The business has since been rebranded Briggs Equipment Ireland and Briggs said there are “significant growth opportunities” for the group in the country.
In 2019 Briggs vows to build on its “strong core business foundation”. Since its financial year end it acquired Hitec Lift Trucks, based in Wellingborough.
Briggs is headquartered in Cannock, Staffordshire, and has sites in Haydock, Maidenhead, Abingdon, Glasgow, Dublin and Newtownabbey.
