A Falkirk-based bus manufacturer has seen its turnover and profits rise sharply in the year, thanks largely to a strong performance in the international market.
Alexander Dennis Limited (ADL), which saw its vehicles in huge demand in last year’s London Olympics, posted a turnover of £481 million for 2012. This is up from £357 million in the preceding year.
ADL’s profits also soared by 56% in the year, with the firm making £24.2 million before tax.
As well as a strong domestic performance, which saw the firm retain its 47% market share, ADL had a strong year overseas. With Australasia, Asia Pacific and North America all performing well, the company saw its pre-acquisition turnover rise to £137 million, a 270% increase in the year.
The growth has been down to excellent management at the firm, which has seen it completely overhaul its financial strategy.
A revolving five-year facility has been brought in. Similar to many Scottish firms who have introduced rolling and flexible invoice factoring deals, this has helped it shore up cash flow.
It has been the catalyst for huge investment in new economic fleet builds, with a company statement saying:
“Customers are increasingly focusing on fuel economy and reliability of their fleets and, as a leading provider of lightweight fuel-efficient vehicles, this is an area in which we have been investing heavily over the past few years and we will continue to do so to maintain our market position.”
The growth has also seen the firm increase its workforce significantly, with ADL now employing nearly 2,500 people throughout the world.