Montupet reports recovery with turnover of £60m
Montupet (UK) is a wholly- owned subsidiary of a French company of the same name.
The company, which has operated successfully in Dunmurry for 20 years, specialises in the manufacture of aluminium vehicle engine components for which it has contracts from a number of car manufacturers from across Europe.
The firm’s trading results for 2009, now released, show the dramatic impact of the wider downturn in the vehicle market in 2009 which continued into early 2010.
Unusually, the firm reported a much-reduced operating profit and, taking account of exceptional payments related to the cost of redundancies, this became a pre-tax loss of £582,000 in 2009.
The annual value of turnover increased steadily during the past two decades but since 2007 has fallen by over a quarter in two years. Employment has fallen by more than 50% alongside the fall in production from over 1,000 at the start of the millennium to an average of 444 people in 2009.
The company says that demand for its products was recovering during 2010 and for that year annual turnover may again exceed £60m.
This is expected to allow a return to profit and a positive cash flow.