Turnover milestone for car parts supplier | North East Business News – Insider Media

August 9, 2022 by No Comments

Turnover has risen past the £50m mark at a Middlesbrough-based car parts supplier, which has branches across the country.

Fleet Factors was founded in Teesside in 1975, and provides products such as truck and trailer parts, car and van parts, lubricants and consumables.

The business has a number of branches across the North East, as well as in locations such as the North West, the Midlands and Yorkshire.

In its financial results for the year ended 31 October 2021, turnover rose to £53m from £47.8m in the prior period.

Gross profit was £14.4m up from £11.9m, while pre-tax profit jumped to £2.9m from £1.2m.

In November 2019, the business acquired Tees Valley Components, and its figures are reflected in the results.

A report alongside the results said that the profit achieved was “in line with expectations” and added that gross profit and operating margins increased “despite the continuing difficult market conditions”.

Looking ahead, Fleet Factors said: “The directors consider the state of the company’s affairs to be in good order and are prepared for the trading conditions expected in the coming year.”

Source: https://www.insidermedia.com/news/north-east/turnover-up-at-car-parts-supplier


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