British manufacturer Oliver Valves has announced a generous year of sales and profit growth, revealing a £85m order book as a result of robust international demand.
Oliver Valves, supplier oil and gas companies around the world, is expecting sales to hit £100m in the next 12 months.
From September 2012-13 sales increased by 17 per cent to £76m and operating profit for 2013 was up 24 per cent, compared with £18.8m in 2012.
Roughly 90 per cent of the company’s turnover comes from exports, with all 18 of Oliver Valves’ key geographic trading areas enjoying growth in 2013, with Brazil being the organisation’s number one market.
The firm is planning to increase its presence in more northern areas of the US in the next 12 months. It also expects to consolidate its position in parts of the Middle East and Far East and improve connections with India.
Founder and chairman of Oliver Valves, Michael Oliver OBE said: “After another stellar performance, with sales up in all of our key markets, it is hugely satisfying to be sitting on the healthiest order book in the company’s history.
“We have maintained our laser focus on premium products, innovation and service, which sets us apart from competitors, and we continue to the fly the flag for quality UK manufacturing overseas.
“With a buoyant oil and gas sector and the company generating income from almost every major global energy market, we can look ahead to 2014 with real confidence.”
In 2013 Oliver Valves invested £750,000 in a distribution centre, £700,000 in a facility dedicated to research and development, as well as, buying a 17-acre plot for future growth at its base in Knutsford, Chesire.
Oliver Valves was founded in 1979 by Michael Oliver from his family garage, it now supplies more than 300,000 valves a year to companies all over the globe.