Ability Matters’ turnover increased 3% to just over £44m in the year ended 31 October 2017 thanks to a number of factors, not least the growth of its NHS service business and in particular new wheelchair contracts.
Product sales to third parties in the UK and overseas have also been key to the group’s performance, which saw operating profit creep just above £2m.
According to Ability Matters’ annual strategic report, investments in the previous year have meant increased capacity of it sales and orthotics manufacturing.
Increased capacity has meant the group has been able to service its new contracts without a directly corresponding increase in costs.
The report stated: “The group continues to tender for additional public sector contracts and expand its product base.
“The directors expect this activity to lead to further growth in the coming year and improved profitability.”
The report outlined the group’s intention to continue to develop its business in multiple sectors and said it will continue to concentrate on its partnerships with NHS organisations.
It added: “Expansion into the area of posture and mobility products and services will continue to receive focus to broaden the group’s activities.”
CLICK HERE to read AMP’s interview with Ability Matters’ CEO, John O’Byrne.