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Gray & Adams profit reaches almost £10m

Fraserburgh, Scotland: Reefer trailer and body builder Gray & Adams reports turnover up 19% and pre-tax profit of £9.7m for the last financial year.

One-off additional orders boosted Gray & Adams turnover and profit for last year

The family-owned business, which supplies trailers to most of the UK’s major supermarket chains, saw its turnover increase by 19% to £148.3million in the year ending April 2017.

Profit was up from £8.1m to £9.7m with net group assets increasing by £7.6m to £33.4m.

Mark Grant, group finance director, said the latest positive figures were boosted by additional orders which are not a regular occurrence.

“These results are exceptionally good with increased sales in all our primary product lines. We are accustomed to building large quantity orders but this year’s results were boosted by a handful of large trailer and truck body orders that are not an annual occurrence.

“As a result, production levels across all our four manufacturing locations increased and productivity improvements have led to greater profits.”