Record profits for manufacturer as revenue tops £100m

Listed manufacturer MS International has reported record profits and revenue of more than £100m for the first time in a 'year of outstanding trading performance'.

The Doncaster-based company reported a pre-tax profit of £15.71m for the year ended April 2024, up from £5.08m in 2022/23. Revenue increased to £109.58m from £83.96m, passing the £100m mark for the first time in the company's history.

The group's order book reached a record £162m at the end of the period, compared to £115m at the end of the prior financial year.

MS International reported a 'year of considerable progress and growth' in its Defence and Security business, with interest in its naval and new land-based weapon systems remaining 'encouraging'. Its Forgings division, which has operations in the UK, US and Brazil, 'performed well, although not to the exceptional levels achieved in the previous year'.

The Petrol Station Superstructures business was said to have performed strongly, with work on a number of significant projects. The group's Corporate Branding arm also achieved 'another year of strong performance' in the UK, while a restructure was undertaken of its operations in the Netherlands and Germany.

In his statement accompanying the results, executive chairman Michael Bell said: "This has been a year of outstanding trading performance and growth for the company, reflecting the total commitment of the board, over many years, to strengthen and develop each of our diverse businesses. "Clearly, the progress we have achieved in growing the 'Defence and Security' division has been outstanding and we must continue to exploit the many opportunities we have as we drive the future growth of MSI."

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