Northern Ireland trailer firm Retlan sees annual sales rise to £197m
Northern Ireland trailer giant Retlan Manufacturing has reported a 14% increase in group sales to £197m in its latest results.
And the Toomebridge-based firm - parent company of SDC Trailers - also reported a 35% jump in pre-tax profits to £11.5m for the year to April 2016.
Retlan Manufacturing was sold in June last year to Chinese company CIMC Vehicles UK Ltd.
Turnover was up 24%, from £150.5m to £186.6m, while group turnover jumped to £196.9m from £172.2m.
In a strategic report for its final results as a Northern Ireland-owned firm, the directors described the year-end position as "satisfactory".
They added: "The directors remain confident that the current level of performance will be sustained in the future and it is the directors' intention to develop the present activities of the group."
The report added that the business faced uncertainties from increasing raw material costs and maintaining current sales levels.
As well as manufacturing and selling commercial trailers, the company also sells other commercial vehicles and trailer parts. The group had a workforce of 828 over the year to April 2016 - down from 848 a year earlier.
And the group's highest paid director had a pay packet of £1.5m, the results show.
The group consists of MDF Engineering and SDC Trailers.
According to the company accounts, the group sold its interests in FP&S Parts and Service for £4m cash in September 2015.