Automotive manufacturer drives sales past £50m

A Washington-based manufacturer which supplies the automotive sector has increased sales past the £50m mark for the first time and is expecting another strong financial performance over the coming months.
SAI Automotive Washington is based at Pattinson South Industrial Estate where it employs a workforce of about 210. It is part of the Faurecia Group.
For the year to 31 December 2016, the company reported turnover of £51.5m compared to £48m in the previous 12 months.
Of this total, £50.6m came from the UK, £867,000 was courtesy of sales from the rest of Europe and £36,000 was income from the rest of the world.
However, pre-tax profits were down from £4.74m to £2.46m.
SAI benefitted from entering in a “significant” new sales contract towards the end of 2015, which helped boost the year-in-review’s figures. It also began production under two new programmes in 2016.
Looking ahead, it said: “The company’s forecasts and preliminary unaudited results for the 2017 year to date indicate that it should be another year of strong financial performance.”
Founded in 1997 Faurecia Group, has grown to become a major player in the global automotive industry and is backed by an R&D and production network with sites in 35 countries.
 Fuente: Insider Media