Company Snapshot: Ryobi Aluminium Castings (UK) Ltd
Published 04/10/2011 | 08:00
In 2009, Ryobi experienced a sharp fall in annual sales from its plant in Carrickfergus, specialising in aluminium castings for the motor vehicle sector.
Then in 2010, there was an appreciable recovery, although sales were still lower than in 2008 and earlier years.
In 2009 the factory took a big reduction in output levels as a consequence of a fall in orders linked to the recession in the car industry.
In 2010 output partially recovered and rose by 39% but was still 26% lower than in 2008.
Reflecting on 2010, the directors' report restates the uncertainty over demand for the company's products as was also reported in 2009. The cautious assessment says the company should be able to continue to operate within the level of its current facilities. It also acknowledges the continued support of the parent company.
The directors say that, although the profit and loss account shows a continuing and rising deficit, in the current economic climate they are satisfied with the result for the year and anticipate that the company will return to profitability in the future.
These aspirations come knowing that during the last three years Ryobi in Northern Ireland has recorded an operating trading loss and an associated pre-tax loss which rose to just over £3m in 2010. Employment numbers have fallen sharply.
The number employed in 2010 averaged 197 people - down from 200 in 2009 and 274 a year earlier.