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Stiltz ‘very pleased’ with 38% turnover growth as it seeks expansion

Stiltz Homelifts New Head Office

Stiltz, specialist in domestic lifts, is showing rapid expansion according to its 2019 financial statement released yesterday.

Turnover was up a massive 38.1% in a single calendar year, from £14.6 million to £20.2 million, while gross profits saw a significant rise too.

This meant that Stiltz’ 2018 gross profits of £6.16 million grew to £7.68 million in the year ending 31 December, 2019.

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A statement from the Stiltz board read: “The directors were very pleased with trading turnover … driven by volume increases in both domestic consumer and international trade channels.

“The business made an operating profit of £0.4 million which was in line with expectations at the beginning of the period.”

It also added that much of the directors’ time in 2020 has been taken up by management of the coronavirus pandemic, saying: “The directors have seen continued growth in 2020 across all channels.

“In July 2020 the head office took occupation of a brand new 36,000 sq. ft. facility in the Midlands allowing for future growth in headcount and warehouse stock.”

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Sam Lewis

The author Sam Lewis

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