Turnover and profits rise at dumper truck firm

Image credit: Mikebeard

Turnover and pre-tax profits rose at Warwickshire-headquartered dumper truck maker Thwaites during its latest financial year, according to newly filed documents. For the 12 months to 31 August 2019, the company has reported a turnover of ?85.5m and profits of ?12.6m, up from ?82.6m and ?11.8m respectively. Thwaites, which is based near Leamington Spa, designs and makes a range of trucks which can take loads of up to ten tonnes.

The business is owned by the Wills family, which includes Lord Dulverton of Batsford and his brother Ian. The former family business, WD & HO Wills, was a cigarette manufacturer and one of the founding companies of Imperial Tobacco. A statement signed off by the board said: "Demand for dumpers increased marginally during the year which provided an improvement in turnover compared to the previous financial year.

"Profit levels were in line with expectations, although supplier pricing and weak GBP affected the available margin. "Increased competitive activity also created an environment for a reduction in the price for the products. "Early in the year the level of house building and general construction across the customer base assisted sales in both UK and export markets.

"The topic of Brexit and political instability affected customer confidence as the year progressed and this is likely to continue until a resolution is confirmed."

You may also like...