Changes to tyre pressure rules increases marketing opportunities for Schrader
Schrader Electronics has expanded quickly and profitably in recent years with an unwelcome blip in 2009 from which it has now recovered.
The local manufacturing facility is based in Carrickfergus. Until September 2010, it was a wholly owned subsidiary of Tomkins plc, registered in England.
Last September the Tomkins businesses were purchased by a consortium so that the ultimate parent company is now Dutch-registered Pinafore Cooperatief U A.
The principal activity of the business is the development and manufacture of remote tyre pressure monitoring systems for vehicles and other related electronic sensing technologies.
During 2008 and 2009 the company was affected by the downturn in the production of motor vehicles in North America.
During 2010, sales volumes were higher following an improvement in the global vehicle markets.
The headline figure for 2010 was the sharp increase in recorded turnover. In the last five years, production value has nearly tripled.
Consistent with the increase in turnover, operating and pre-tax profits have also increased. Pre-tax profits in 2010 were equivalent to 42% of the balance sheet value of shareholder funds.
European Union legislation means that by 2012 a system of remote tyre pressure monitoring will be required on all new vehicles. This means a major increase in market opportunities.
Changes in market demand may affect the number of people employed.
The average number of employees in 2010, at 855, was 6% higher than a year earlier.
This was double the numbers of five years ago. Post-tax profits are usually retained within the business.
No dividends have been paid since 2005.
Editor's note: Following a technical fault in the presentation of this report last week, the financial details have now been corrected. We apologise for the error made in transcription.