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Wrights GPX announces 40% increase in turnover and aims for further growth

Wrights PlasticsWe are delighted to announce a massive 40% growth in turnover – and we aims for further growth in both turnover and staff for the rest of the year. This week we reported turnover of £6.5million – 40% up on last year’s figures – and have already set ourselves the challenge of increasing turnover to £8million by the end of the financial year.

The increase in turnover has also resulted in an increase in staff. The company added eight staff last year and aims to add the same number this year. This would be a boost to the local area and would bring the total workforce to almost 90. The company invested over £500,000 in new equipment and aims at similar levels of investment in the year ahead.

Managing Director Mike Wright said this week “These really are fantastic figures and I’d like to thank everyone in the team for all the hard work and initiative in the past twelve months.”

The figures have been boosted by the award of prestigious retail display contracts from High Street brands such as Marks & Spencer and Tesco. The have also seen growth in their Sign and Display division and their online retail arm.

Retail spend in the UK April 2013- April 2014 grew by 6.2% (Source: Office National Statistics) and Mike believes growth and confidence have been a factor “We have certainly benefited from increased economic optimism but most of the growth is a result of how we have adapted internally - developing our product offering to meet client needs and using our expertise to enter new markets. We have invested heavily in innovative CNC laser technology that has enabled us to secure large-scale projects.”

Wrights GPX has set challenging targets for continued growth in the current Financial Year as Mike explained “We aim to turnover £8m and add around 8 more staff to the team. If we achieve this we will have increased our workforce by over a quarter in just two years.”