08.11.2013

King climbs 38%

UK based King Vehicle Engineering Group – which includes King Trailers and Skyking – the Palfinger Platform and GSR distributor, has posted a strong set of results for the fiscal year ending March 2013.

The company is privately held and so does not publish a full set of accounts, however total revenues increased by 38 percent to £16.7 million, while pre-tax profits more than doubled to £1.13 million.

The company says that in spite of a difficult year for its transport trailer division - due to limited investment from customers within the construction industry - growth in its newly formed rail engineering division along with strong sales of large aerial platforms and significant fleet orders for van mounted platforms helped boost revenues. A good start for its new distributorship for Palfinger hooklifts also helped - contributing sales of more than £2 million. The company’s specialist vehicle rental division also made a decent contribution to profits.
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Mark Carrington of King (L) shows Market Harborough MP Sir Edward Garnier around the King plant

Managing director, Mark Carrington said: "Despite all the recessionary threats limiting investment in our markets for capital equipment, King has worked hard to reduce its dependence on one particular market sector and our customers respect the increasingly diversified product range all geared to delivering a quality range of truck related equipment into key growth sectors of our chosen niche markets. I am particularly pleased with the way our workforce has accepted the need to continually train and adapt to the expanding range of products we offer such that we maintain our reputation for quality engineered product."