Belfast Telegraph

Watch: Belfast Telegraph business round-up: Schrader shed nearly 190 staff year though pre-tax profits have grown

In this week's Belfast Telegraph Business News Bulletin in association with Ulster Bank, Northern Ireland manufacturer Schrader has shed nearly 190 staff over the year though pre-tax profits have grown, its latest accounts show.

The Antrim company, which makes tyre pressure monitoring systems for the motoring industry, now has 1,198 staff. But pre-tax profits at the firm have climbed from $88.9m to $95.4m during 2018. However, sales were down 2% to $418.9m.

And entrepreneurs Michael Blaney and Paul Allen have bought over a pasta company. Pasta King in Devon provides pasta meals to schools in the UK. It has 55 staff in Newton Abbot, Devon and supplies over 13 million 'grab and go' meals into primary and secondary schools. Paul Allen is no stranger to the food industry as the former chief executive of Tayto and the owner of Genesis Crafty bakery.

And Lidl is the fastest-growing grocer in Northern Ireland, and has increased sales by 6.6%, according to latest data from research company Kantar. Tesco also increased its sales by 0.5%. But Sainsbury’s and Asda both reported shrinking sales, with Sainsbury’s sales down 0.9% and Asda sales down 1.2%.

And this week's featured company is IT solutions provider Expleo, which employs 100 people in Belfast.  The firm calls itself a new breed of technology partner for helping companies through digital transformation.

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