Hitachi Construction Machinery (UK) has seen its turnover increase to a record amount of £162.9M this year due to the increase in demand for construction products.
Based in Hebburn, South Tyneside, the Company has seen turnover increase by nearly £30M from last year’s £133M.
Pre-tax profit also rose from £8.18m to £9.82m. Hitachi Construction Machinery also saw its average number of employees for the year increase from 4,061 the previous year to 4,713.
The Company supply a vast range of Hitachi construction vehicles such as dump trucks, wheeled loaders and excavators and also parts and servicing to the construction industry across the UK and Ireland.
Chairman John Jones said in a strategic report: “The period under review proved to be very exciting, with the growth in construction output exceeding the government’s expectation. The growth in sales volume is in line with the directors’ forecast made in March 2014.
“The increased demand for construction equipment has spread from the South East of the country towards the Midlands and South West, the North is showing small signs of recovery.
“The directors are cautiously optimistic that sales of £162.9m – an increase of 22% – can be maintained. This is aided by the introduction of new models from Hitachi with improved fuel consumption and lower emissions.
“During the year the company continued to keep a tight control over both fixed and variable costs, a major contributing factor to the company’s increase in profitability.”
The Company began life as HM Plant Limited in 1979 and relocated to the North East from Somerset in 2004.
In April 2007, it became a wholly owned subsidiary of Hitachi Construction Machinery Europe, before rebranding in 2014 to Hitachi Construction Machinery (UK) Limited.
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