A Northern Irish manufacturing company, which was bought last year by a Chinese counterpart, has increased sales towards the £190m mark and anticipating further success. Established in Toomebridge in 1978, SDC Trailers is one of the largest manufacturers of its kind in Europe. It produces a wide variety of wide products, sells new and used trailers and offers a refurbishment service.
For the year to 31 March 2017, turnover increased from £179m to £189m. Pre-tax profits were also up from £8.2m to £10.6m.
In a report accompanying the results, SDC said both the level of business and year-end financial position were considered satisfactory, with directors expecting the current degree of activity to be sustained “for the foreseeable future”.
The company said it is likely to “develop” its present activities. On Brexit, directors said they “do not expect any material change” as a result of the UK’s impending departure from the EU.
During the year, SDC was acquired as part of its parent company Retlan Manufacturing being bought by CIMC Vehicles of China.
“The acquisition is an important step forward for SDC Trailers and the rest of the Retlan Group,” said chief executive Mark Cuskeran.
“This is a significant opportunity for the company, its staff and for the future. We have been impressed by the approach of the new owners to the acquisition and the company is now looking forward to a significant period of growth on a global scale.”