Minerals processor Kilwaughter reports rise in turnover
THE parent company of minerals processor Kilwaughter Minerals has recorded an 11 per cent increase in turnover to £42.9 million from £38.5 million in 2020.
The performance was reported in accounts for Kilwaughter Holdings Limited lodged with Companies House for the year to April 30.
Based outside Larne, the company quarries limestone principally for the construction and agriculture industries, making products including through-colour renders, external wall insulation systems, soil health conditioning minerals and livestock bedding lime solutions.
Profits before tax were £9.4 million, compared to £5.4m in the previous 12 months.
Kilwaughter Minerals chief executive Gary Wilmot said the financial results represented a “hugely positive” performance against a difficult backdrop of challenging trading conditions and the coronavirus pandemic.
“As the economy has emerged from the onset of Covid-19 and the subsequent lockdowns, we have worked hard to service a sustained surge in demand for our products,” he said.
“Investment has continued on multiple fronts including £1.9m on infrastructure and capacity enhancement, with further investment also directed towards our product portfolio and our innovation focus through our research and development capability.”
“This has enabled us to maintain our position as a leading supplier within our market segments in the UK and Ireland and positions us for further growth in the months and years ahead.”
Kilwaughter recently opened a new business support centre following an investment of £1.75m in the 9,000 sq ft office facility.
Ongoing recruitment in 2021 meanwhile has seen staff numbers eclipse 200 while the headcount of the company’s research and development department has grown by 50 per cent as part of a long-term £3.4m investment programme in innovation.
Kilwaughter group’s brands include Kilwaughter Lime, K Systems and K Rend, the UK and Ireland’s largest independent silicone render manufacturer.