Automotive firm Unipres has returned to profit but saw its headcount reduce by more than 100 during another difficult year for the car industry, new accounts show.
The Sunderland-based firm, which is a key supplier to the nearby Nissan plant, has released accounts for 2022 in which its revenues grew from 拢151.6m a year earlier to 拢173.9m. Over the same period, an operating loss of 拢15.7m was turned into a profit of 拢2.8m.
Unipres said that its return to profit was due to 鈥渋mproved customer demand despite the semiconductor/component shortages鈥, but did not recommend the payment of any dividend. Instead a retained profit of 拢100,000 was transferred to the company鈥檚 reserves.
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And despite what it described as a 鈥渃hallenging year鈥, Unipres said that it had invested 拢2.9m to update ageing pressing machines to help ensure the long-term viability of the North East site. It also highlighted the continuing work of its Unipres Training Academy, which it said had worked with local schools as well as seeking to improve the skills of its own apprentices and other workers.
But the company - which stamps and assembles parts for motor vehicles - also revealed that its staff numbers had fallen for the fourth consecutive year, going from nearly 1,000 to just over 850. The accounts reveal that the company鈥檚 costs included 拢868,000 of redundancy payments.
Company secretary Andrew Fawell said: 鈥淒uring 2021 and 2022, the business has suffered from the global semiconductor shortage that has impacted the automotive industry and resulted in the original equipment manufacturer (OEMs) suspending production at short notice through this period. The semiconductor and component shortages has continued into the first quarter of 2023, although is expected to recover during the year.鈥
The bulk of Unipres鈥 2022 income came from a 42% increase in automotive components (to 拢153m) as the global semiconductor shortage began to ease and the price of steel increased. Tooling sales of 拢20m were around half of the level seen a earlier.
Figures released last week by industry body the Society of Motor Manufacturers and Traders (SMMT) showed that 海角视频 car production rose 11.7% in the first half of 2023 as supply shortages eased. 450,168 new cars were manufactured in the 海角视频 between January and June, compared with 403,131 during the same period last year, with the increase driven by exports, which were up 13.6% to 359,940.
SMMT chief executive Mike Hawes said: 鈥満＝鞘悠 car manufacturing is growing again, with production - especially of electrified models - increasing and major investment announcements making headlines. This is testament to the resilience of the sector and its undoubted strengths: a skilled and productive workforce, world-class R&D (research and development), and efficient, productive plants.鈥
