Construction vehicles company Hitachi Construction Machinery UK is poised to take on new employees after an “exciting year” saw pre-tax profits rise by 50%.
The company, which supplies Hitachi construction vehicles and equipment to demolition, commercial and residential property and civil engineering projects, posted gross profit of £15.1m for the year ended March 2014, a 33% lift on the figure recorded the previous year, while pre-tax profit reached £8.2m, 50% up on the previous period’s £5.4m.
Launched in 1979, the firm operates a seven-acre site on the Monkton Business Park, as well as 10 branches across the country, and chairman John Jones said the year had been a good one, with increased demand for their services spreading from the South East.
He said: “The period under review has proved to be very exciting, with the growth in construction output exceeding the government’s expectation.
“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.”
Mr Jones said he was pleased with the sales growth and he believes it can be maintained, optimism that mean he is looking to recruit. He said: “We are a very focussed team here. Nationally we have 11 depots and everybody works as a team.
“We’ve got a fantastic product and we’ve forecast the market right, so got in the extra machinery as we were coming out of recession, so we’ve got another great result.
“This is also a great relationship business. Some of our customers have been with us for 30 years, which is testimony to the longevity of our products and the relationship between us and our clients.
“Looking ahead to this year’s results, we’re cautiously optimistic – and are optimistic for more growth.
“We’re now four months into our new financial year and we’ve had a very encouraging start.
Over the course of the year the firm took on 11 new employees and on the back of current growth Mr Jones envisages more job creation.
He said: “We will have to increase the workforce.
“Last year we had around 100 employees and had to increase the workforce as a result of our performance, and we will be making strategic moves towards taking on a few more people.”