close

‘Turnaround year’ for Electric Mobility as new products help pull it back to profitability

Electric Mobility RunOn tyre system crop

Electric Mobility is back in black after a successful year trading that saw its new product releases help it to turn a profit once again.

The mobility equipment manufacturer made an operating profit of more than £250,000 for the year ended 31 December 2017, compared to a near £700,000 loss in 2016.

Meanwhile, the group’s turnover increased again by 5% to over £13m, according to its latest strategic report.

Story continues below
Advertisement

In the report, the company said that it was “pleased with the results for the year and the turnaround from 2016”.

It added that Electric Mobility is continuing to develop new products and believes this trend will continue throughout 2018 and beyond.

Electric Mobility’s loss in 2016 was attributed to fluctuating exchange rates during the period because it buys a lot of its products in US Dollars.

It announced at the time that it was investing in a raft of new products that it hoped would spearhead its return to profitability.

One of its most well-received products was its ‘RunOn’ tyre system which vows to end the frustration that mobility scooter users face when suffering punctures.

The report noted that while the mobility market remains “very competitive”, the directors believe they are in a “strong position” to continue to expand its market share.

It concluded: “The company continually strives to offer superior levels of customer service and innovative products that provide improved quality of life for customers.”

Tags : electric mobility
Joe Peskett

The author Joe Peskett

Leave a Response