04.08.2015

Record year for Penny Hydraulics

UK based loader crane and load handling equipment manufacturer Penny Hydraulics has reported a record year, with revenues up over eight percent to £6.1 Million.

The company is privately held and has not yet released a full set of accounts, last year the company reported a pre-tax profit of £503,000 on sales of £5.65 million. The company is forecasting sales of £6.5 million for this year.

Vehicle mounted lifting equipment accounted for 35 percent of total sales this year with specialist mechanical handling for industrial applications, including the nuclear industry and lighting hoists etc making up the rest. The company reported sales to 22 countries, indicating an increasing portion of its sales coming from exports.

The company has increased its staffing levels with 10 new employees, and is now recruiting again for jobs at its Chesterfield facilities. Plans are also being finalised to expand the plant to keep pace with increased demand – work is due to begin later this year.
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The new PH crane range has contributed to Penny Hydraulics' record year

Managing director, Robin Penny said: “this has been achieved by maintaining the same level of quality in our products, but looking at new production methods and running the business efficiently to keep our administrative overheads to a minimum, and reducing stock levels.”