Ebac, the County Durham-based electrical goods manufacturer, the only British company to produce washing machines, dehumidifiers & water coolers in the UK, has announced a profit increase of more than 150% in 2016, compared to 2015.
The firm, which was founded more than 40 years ago by Brexit-backing North East engineer John Elliott MBE, who now serves as its executive chairman, recorded a profit of £327,663 in the year ending 31st December 2016, a 154% increase on its 2015 profit of £128,923.
2016 saw the company’s turnover grow to £15,338,277 from £13,294,952 the previous year. Almost £5 million of turnover was UK sales, with exports accounting for more than £10 million.“After our return to profit in 2015 it is fantastic to be able to mark an increase in that profit of 150% in just one year. This profit is after investing more than one million pounds in new product development, which should mean higher sales going forward.” Says John Elliott.
Ebac has seen sales of its domestic dehumidifiers more than double in the last 2 years. John went on to say, “More people are realising the benefits of owning a dehumidifier to protect your home from condensation and damp. We have made significant investments in product development specifically our patented SMART control system and 3000 series range which features a new laundry drying mode. We have also signed new distribution deals with B&Q and Curry’s and our dehumidifiers are now available in store as well as on-line with Argos, Amazon, AO and others.”
Tony Hird, Business Development Director at Ebac, said: “We are very proud to have invested in new product development over the last few years, which has also seen us launch washing machines. These new products, plus a Brexit boost for exports, caused by favourable currency exchange rates have let us build on the success we had in 2015.
“Ebac is not a company to rest on its laurels and we will continue to innovate and invest in new and existing products, embrace the opportunities that leaving the EU will bring and continue to fly the flag for British manufacturing.”