Cooker manufacturer Glen Dimplex that manufacturers under the Stoves, Belling and New World brands has reported that its profits have doubled despite a fall in sales volumes.
Accounts filed with Companies House shows that the the company’s pre-tax profits have risen from £3m to £6.8m with turnover figures of £129m dropping to £117m for the same periods. Glen Dimplex profits were hit in 2011 by the write off on the investment made into LEC Refrigeration of £3.5m.
Glen Dimplex employs over 1000 people at its production facilities in Prescot near Liverpool.
The company has also increased investment in research and development at the site, although only marginally from £1.8m to £1.9m.
Glen Dimplex said, “It is the intention of the directors to continue to develop the principal activities of the company and to identify areas with further growth potential.
“The company is engaged in ongoing research and development work in order to improve its product range and to increase its market share.”
