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Company report: Montupet - firmly on the road to recovery

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Workers at Montupet have landed a major deal to produce parts for Ford, just a day after Bombardier secured a massive deal with VistaJet

Workers at Montupet have landed a major deal to produce parts for Ford, just a day after Bombardier secured a massive deal with VistaJet

Workers at Montupet have landed a major deal to produce parts for Ford, just a day after Bombardier secured a massive deal with VistaJet

Montupet (UK), based in Dunmurry, is a wholly owned subsidiary of a French company of the same name.

The factory specialises in the manufacture of aluminium vehicle engine components for which it has contracts from a number of car manufacturers across Europe.

Trading results for 2012 show a continued recovery from the downturn in the vehicle market in 2009 and into 2010. Turnover fell to just under £48m in 2009. Since then it has increased to over £71m in 2011 and although fractionally lower, more recently this improvement has continued in 2012.

The company reported a small operating loss in 2009. In the three following years, operating profit has recovered and in 2012 reached just over £10m. Pre-tax profits have mirrored the changes in operating results since the company carries modest net interest payments on borrowed funds.

After a period when no dividends were paid to the parent shareholders, in 2012 the company awarded a dividend of £8.6m.

Employment has remained at over 500 people since 2010.

Capital investment continues at a significant level and, in the last three years, it has again exceeded the levels of depreciation claimed on the existing assets.

The directors' report suggests that in 2013 demand is expected to increase "with existing demand augmented by new product introductions as a result of substantial investment in capacity".

Belfast Telegraph