Robotics expert Tharsus Group has seen profits more that treble as demand for its services ramps up.
The parent group for advanced machines and robotics firm Tharsus and sheet-metal fabrication leaders Universal Wolf has published accounts for 2019 showing a 14% lift in revenues to £58.3m on the back of increased activity at the two firms.
Operating profit soared significantly from the £800,006 posted in 2018 to £2.53m, while group Ebitda also soared by 188% to £2.88m.
Launched in 1964, Tharsus has evolved from being a traditional welding business into a leader in 海角视频 robotics, working to supply online grocer Ocado with its fleet of robots which pick food for deliveries, as well as delivering innovative tech to companies such as DHL, Automata and Small Robot Co.
The group said its growth mirrors the increased demand for technology to solve automation challenges and create new business opportunities.
And in a report accompanying the accounts, CEO Brian Palmer talks of significant investment at the firm’s Blyth site as the group gears up for further growth.
He said: “The group has invested significantly in the last three years in preparation for future significant growth and, having delivered a number of successful strategic machine development projects, is now well placed to win and deliver additional similar long term contracts in the advanced machine and robots marketplace.”
Significant business wins for Universal Wolf in 2019 included new agreements with innovative compressor tech specialist Lontra, unmanned security kit developer Protector Group, and Dennis Eagle, the world leader in the design and manufacture of refuse collection vehicles.
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The directors said the strong financial results have helped the firm to maintain operations and continue to innovate during the Covid-19 pandemic.
New innovations include the launch of Bump in May 2020, a personal motion system designed for controlled environments that helps change and improve social distancing behaviour.
Team members wear a Bump device that alerts them when someone else is too close, and it also uses smart reminders to prompt people to clean their hands regularly with Bump-enabled sanitisers.
The system, which Tharsus says helps employees make safer decisions in the workplace, is different from mobile apps because it works in real-time and is preventative, unlike mobile apps that can only work retrospectively by tracing post-event contacts.
Gerard Murray, chief financial officer of Tharsus Group, said: “We’ve enjoyed another year of strong growth and the 153% increase in profit reflects both the growing demand for our solutions and the ability of our team to deliver.
“We have built a successful business model, which has stood firm throughout the Covid-19 pandemic, and there are now significant opportunities for further growth over the next few years.
“Our progress in 2019 is a clear testament to the success we’ve had in translating promising R&D projects into commercially successful products for high-growth markets. We will continue to invest heavily in growth, to expand our global network of partners, and to focus on our mission to ‘do the right thing’.”
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Last month Tharsus announced an extension to its partnership with Ocado Group, the world’s leading online grocery platform, which will see it develop, provide and maintain the systems it uses to pick groceries until September 2024.
The agreement will also trigger a multimillion-pound investment in Northumberland, while securing and creating a combined 100 jobs, including many in Blyth.