Peterborough trailer manufacturer moves into top gear as profits soar
A leading manufacturer in Peterborough has been singled out as one of the UK's fastest growing profit stars.
Trailer maker Lawrence David, of Shrewsbury Avenue, Woodston, saw its profits soar by an average of 100 per cent a year to £5 million last year.
That achievement has seen the company, which employs 253 people, shoot straight into the Sunday Times BDO Profit Track 100 league table at number 15.
The table ranks Britain’s private companies with the fastest-growing profits over three years.
Andy Dodge, managing director, said: “It is quite a bonus for us. It’s good for our employees and our profile.
“It is the result of having good staff who are passionate about what they build, and good, loyal customers.”
The accolade comes after the company was featured as ‘One to Recognise’ by the Sunday Times in 2016.
The firm, which has average annual sales of £97 million, has enjoyed a period of rapid growth. It moved into its Woodston premises a few years ago and has trebled its output over the last five years.
It now makes more than 100 truck bodies and trailers a week and repairs trucks and trailers and offers fleet asset management for companies such as Next and Travis Perkins. In 2015 it won a three-year contract to make all of Sainsbury’s home delivery vehicles
Lisa Clampin, partner and head of East Anglia at BDO, said: ”With Brexit and more uncertainty looming, it’s companies like these with their natural energy, ambition and entrepreneurial spirit that will help the UK economy thrive.”
“By supporting their growth, government would also be helping to achieve a more regionally balanced economy that ‘works for all.”