Mobility scooter supplier Kymco Healthcare has proven that it has so far been unshaken by the pressures of Brexit and has continued to grow in what has been a tough trading period for the industry.
In its last financial period, which ended 31 December 2016, the company saw sales increase by 10% to £8.7m while net profits jumped to £346,000 from £119,000.
Kymco’s growth comes despite an industry price hike in parts and products which has bitten providers hard and in particular suppliers who import goods and are exposed to currency fluctuations.
The figures confirm managing director Mark Hermoelle’s comments made to AMP earlier this year where he insisted the firm remained in good shape.
“[Brexit] hasn’t really affected us in terms of our market growth and share, but it does put pressure on costs and inevitably right the way through the supply chain. It is tough but longer term maybe we will be stronger,” he said back in March.
In the last few months Kymco has performed well on the Motabiltiy front, claiming to supply more scooters than anybody through the scheme.
Kymco has demonstrated consistent growth in the last few years, which have been turbulent for most companies in the market. Between 2014 and 2015 it increased sales by around £1.5m and profits grew by more than £100,000.
Earlier this year Kymco, which serves around 300 dealers in the UK, reported a highly successful Naidex show, describing “flood of orders” for its recently launched K-Lite Comfort and Mini Comfort mobility chairs.