Velden Chips in with Record Year
Major Investment Paves Way For Growth
A surge in demand for microchips has helped engineering firm Velden deliver a bumper rise in annual turnover to a record £7.9m, the company said today.
The Bolton-based sub-contractor, which supplies machine parts to a range of industries including power generation, data centres and oil extraction, said it performed well across the board last year and has a record order book.
Trading in 2011 was boosted thanks to a £2m contract at the end of 2010 from the semiconductor industry, which encouraged the company to invest in new machinery.
Sales in 2011 were Velden’s best since the company was founded in 1972, having soared from £5.2m in 2010, and £2.9m in 2009.
After breaking even in 2009, pre-tax profits have also risen from £624,000 in 2010 to £1.185m in 2011.