Announce results amid continued investment in the Region
North East based engineering firm, British Engines, has announced a 12% increase in turnover for the year ended 3 May 2014. A year which saw the group increasing capital expenditure by 20%, creating over 100 new jobs and spending more than £2.4m on research and development.
The group has six north east based businesses all of whom design and manufacture technology leading products for industries including oil and gas, chemical, marine, construction and agriculture sectors.
British Engines’ results showed a 12% increase in turnover up to £156.3m and a pre-tax profit increase of £4m. This has allowed British Engines to increase the level of investment in the business and therefore in the region.
2014 has seen its Rotary Power business move into a new factory in South Shields, CMP Products expand in to a second factory in Cramlington, Stadium Packing Services increase warehouse space in Swallwell and its head office core services team move to Quorum Business Park. This has made way for significant investment in redeveloping its St. Peter’s site on Newcastle Quayside, where BEL Valves is now the sole occupier. With a further investment expected to be announced later this year.
British Engines also revealed in July that it is increasing the size of its apprenticeship intake by 50% as part of its on-going growth plans.
The engineering group has recruited more than 30 apprentices, to add to its existing 53 apprentices, who will be given the opportunity to undertake the company’s in-house Apprenticeship+ scheme, alongside the more traditional apprenticeship programme.
Alex Lamb, chairman of British Engines, said: “The business was founded more than 90 years ago on the same site BEL Valves occupies today; the North East is, and always will be, our home and for this reason we maintain a commitment to not only growing our businesses, but also investing wisely within the region.
“Our commitment to local employment, and in particular apprentices and graduates, means that we retain and nurture the very best engineering talent here in the region. More than 800 local people have undertaken the British Engines Apprenticeship Scheme. Developing this in-house programme to be one of the best engineering schemes out there is a key part of our strategy.”
British Engines’ continued growth, will also see it open additional offices abroad this year including in South Africa and Brazil.