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Wilcox results were 'in line with expectation'
Page 14
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BODYBUILDING specialist Wilcox Commercial Vehicles, which is based near Peterborough, Cambridgeshire, reports that it is satisfied with its trading activities last year, despite seeing its profits dip.
Pre-tax profit for the financial year ending 30 November 2006 was £643,000, compared with E649,000 for the same period the year before.
Operating profit at the Market Deeping business also fell by £18,000 to 2624,000.
But the company says the results are as it expected in a buoyant market: 'With the expansion of the production facilities completed during the first quarters of the financial year, the company saw steady growth in 2006 "The market remained strong and the customer base continued to expand, with more customers ordering multiple units during the year. This enabled the company to improve production efficiencies while trying to absorb the continuous increase in raw material prices.
"The overall performance is satisfactory and in line with man agernent expectation," it adds.
Wilcox manufactures aluminium body parts for commercial vehicles, including tipper bodies for rigid and tipping trailers.
• The latest group financial results from Boalloy Holdings reveal that the bodybuilder and trailer manufacturer made a pre-tax profit of £456,000 on a £23m turnover during 2006.
The company was created as a vehicle to aid a management buyout of Boalloy Industries in July 2005 for more than £.1 .9m. Northern Ireland-based steel fabrication business JIVIF acquired 100% of the shares of Boalloy Holdings in November last year.
According to Boalloy Holdings' directors, the buyout took place "at a time when market conditions were far from ideal" and they expected a period of difficult trading before volumes rose.
However, they say they were "delighted with the rapid growth in truck body sales", particularly through subsidiary Boalloy Fastruck.