Innovation the key as Larne manufacturer grows turnover past £32 million
ONE of the north's leading manufacturers has grown its turnover past £32 million on the back of company innovation and niche expertise.
Larne-based Kilwaughter Holdings Limited has reported a strong year in its latest set of accounts, with group revenue growing by 8.7 per cent from £29.9 million to £32.7 million for the year ending April 30, 2017. Pre-tax profits also rose by over a quarter to just under £10 million (£9.6 million), while the company reinvested £3.5 million into the business during the same period.
Kilwaughter Holdings manufactures and distributes innovative limestone based products for the construction and agriculture sectors under its K Rend and Kilwaughter Lime brands. The Holdings company includes trading entities, Kilwaughter Minerals Limited, Insuletics Limited and Kilwaughter Minerals (Ireland) Limited.
Managing director Simon McDowell said Kilwaughter's success can be attributed to the firm's innovation and ability to capitalise on the UK's reinvigorated housebuilding sector and Ireland's agri-sector.
“Our vision is to build a long-term sustainable business by becoming the brand of choice across our various sectors and through ongoing investment.”
“Over the years we have developed a deep expertise in what is a niche industry with quality products, strong levels of customer service and reliable delivery throughout the UK and Ireland. K Rend is now the UK's largest independent silicone render manufacturer and Kilwaughter Lime processes and distributes white limestone throughout Ireland," Mr McDowell said.
The accounts further show Kilwaughter made charitable donations of £200,000, half of which has been directed towards supporting an innovative new bursary run by Queen's University Belfast.
The Queen's Pathway Opportunity Programme is aimed at enabling young people who have the potential to study at Queen's but who are more likely to do so with the help of some additional financial support.