Business

Sales flat at Comber medical devices firm TG Eakin

TG Eakin was founded in 1974
TG Eakin was founded in 1974

SALES at Comber medical devices firm TG Eakin remained flat amid competition from rivals in international markets.

The company makes products for the ostomy and wound care markets.

Turnover in the year to March 2016 amounted to £27.7 million (down 0.4 per cent on the previous 12 months).

However operating profits rose 4.1 per cent to £16.4m as the firm shaved more than £750,000 off its administrative expenses.

The company is run by the Eakin family from the Ballystockart Road outside Comber.

In their strategic report filed with annual accounts at Companies House, directors said the firm's trading performance was "slightly ahead of the previous year and reflects the combined impacts of various international market environments in which it operates; the resultant competitor activity; the significant investment in new production facilities in Comber; investment in research and development and in sales and marketing resources".

Decreasing sales in the UK and Europe were offset by gains elsewhere.

The 'rest of the world' now represents the largest market for TG Eakin accounting for £14.3m of turnover compared to Europe (£10.7m) and the UK (£2.7m).

The payroll increased slightly during the year to 64 on average making the wage bill almost £1.8m.

The company is ultimately owned by Eakin Investments which is incorporated in the Isle of Man and controlled by the Eakin Family Trust.

It was founded in 1974 by pharmacist Tom Eakin to produce medical ostomy products, particularly skin protection and wound drainage products.

It exports products to more than 30 countries.

It firm's best known product is the Eakin Cohesive Seal which sells around 15 million units annually.

It is expanded rapidly in recent years through various acquisitions while the firm opened expanded premises at its Comber headquarters in 2014.