Co Antrim's Kilwaughter Holdings eyes further growth after strong year
Co Antrim materials business Kilwaughter Holdings has reported a 20% growth in turnover to £40.4m following a major acquisition.
The Larne business is the parent company of Kilwaughter Minerals and provides products to the construction and agriculture sectors.
Kilwaughter said it had also started building work on a £2m business support unit at its headquarters.
As well as the growth in consolidated group turnover, pre-tax profits were increased by 4% to £8m in the year to the end of April.
In a statement about its results, which are yet to be published by Companies House, the firm said the growth in turnover came after the acquisition of English business Alumasc Facades in November 2018.
Kilwaughter said the company had been integrated into the rest of the enterprise in a new segment called K Systems, along with its other brands, K Rend and Kilwaughter Lime.
K Rend makes silicone render, while Kilwaughter Lime processes white limestone from Larne.
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The group's workforce grew from 157 to more than 200 during the reporting period.
As well as investing in its business support unit in Larne, the company is investing in distribution centres, including a site in St Helens near Liverpool.
That facility will be used to improve service for customers throughout England and Wales and support the development of the external wall insulation business.
Gary Wilmot, the ex-head of digital cameras firm Andor in west Belfast, was appointed chief executive of Kilwaughter Minerals in 2019.
Mr Wilmot said the company hoped to benefit from a drive to reduce carbon emissions.
"The UK government has pledged to reduce carbon emissions in the UK and a related priority will be insulating difficult to heat homes," he added.
"In addition, new housing stock in the UK will receive a government boost with a target of building 300,000 units per year.
"Kilwaughter is well positioned to continue its focus on quality and innovation and delivering growth through serving these opportunities."