Dunmurry car parts maker Montupet expects upturn in fortunes after profits dip
DUNMURRY car parts maker Montupet sustained an 11 per cent drop in profits last year - but expects better fortunes in 2016.
The French-owned firm made £14 million on ordinary activities on turnover of £85m (down 3.6 per cent).
The company has operated in Dunmurry for more than 25 years and produces produce cylinder heads for some of the world's best known car makers including General Motors, Ford Motor Company and Peugeot/Citroen.
In their strategic report filed with annual accounts at Companies House, directors said they considered the results "satisfactory".
And they remained optimistic for the future.
"The automotive sector in which the company operates experienced significant recovery over the last few years resulting in sustained profitability for the company," they said.
"Latest forecasts for the following 12 months, point to demand for the company's products increasing steadily, with existing demand augmented by new product introductions as a result of substantial investment in production capacity."
Earlier this year, Montupuet announced it had secured a new contract with Jaguar Land Rover worth £7m.
At the time, the company's managing director John McMichael said the deal would secure 40 positions at the firm from 2019.
The cylinder head will be supplied to the new Jaguar Land Rover engine plant in Wolverhampton.
The financials also detailed a slight increase in the firm's workforce to 293 in 2015.
That brought its overall wage bill to £19.9m.
Directors received £850,000 in total with the highest paid taking £368,000.
Montupet arrive in Northern Ireland in the 1980s when it took over the factory formerly used to make the ill-fated DeLorean cars.
The overall group has seven manufacturing plants globally specialising in the design and manufacture of aluminium castings for the automotive industry.
In January of this year, it was acquired by the Linamar Corporation, a Canadian based global manufacturing company.