A County Durham-based supplier of piping systems and pipe products is planning further investment in its systems and staff after upping turnover and profits in a “very successful” year for the business.
IPS Flow Systems is based in Seaham and has been in operation for more than 25 years.
In accounts covering the year to 31 December 2017, pre-tax profits at International Plastic Systems Ltd rose from £2.8m to £3.4m on turnover that climbed from £13.3m to £14.6m.
The business said that with increased sales in nearly all geographical areas and across all product groups, 2017 had proved to be a “very successful year”.
All the financial objectives for 2017, including a sales target in Ireland through a new office and warehouse, were achieved.
New product ranges proved popular, while general day-to-day sales were said to be strong throughout the year with only one month, December, falling below £1m sales turnover.
In a business review within the accounts, IPS’ directors said they remained optimistic for 2018 and planned further investment in the business operating system and in additional staff.
A spokesperson for the directors told Insider: “The hard work of the dedicated staff and the relationships the company has developed over 28 years with its supply partners, many of whom are still family run businesses, ensure that we provide consistently high levels of stock and service to our valued and growing customer base.
“Over the past year the company has increased its employee numbers by seven in total which has strengthened teams in all departments of the business. There are plans to increase this still further in 2018 as the business continues to grow.
“Training has always been a high priority as it ensures that our employees develop and grow in knowledge and confidence which enables us to continue to deliver an exceptional service to all of our customers.
“IPS are no strangers to receiving recognition for their contribution to employee development; in 2007 they were amongst the first companies to be awarded Investor In People – Gold Status.”
Source – Insider Media