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Teesside’s Wilton Universal Group records £3 million turnover increase

An engineering services firm has committed to increasing its workforce following strong financial results.

Teesside’s Wilton Universal Group saw turnover rise by £3 million to £23.23 million, with profit after tax at £2 million, in the year to June 2023.

Its forward order book also grew from £20 million to £24 million between June and October 2023.

Bosses say the growth will contribute to continued investment into its apprenticeship academy and existing workforce, as well as attracting new people to the group, which includes Wilton Engineering Services and Universal Coatings & Services.

Its successes were spurred by orders in the defence and mining sectors, as well as a number of projects from oil and gas clients.

A further income stream came through the expansion of its riverside facility at Haverton Hill, on the banks of the River Tees, which increased the group’s site to 112 acres.

Bill Scott, chief executive of Wilton Universal Group, said: “Diversifying our market and operations into defence has provided continuous working.

“This allows the business to focus on efficiency, which has proven to be a successful strategy.

“Through our entrance and establishment in the defence sector supply chain, alongside maximising on the opportunities that have come from the expansion of our extensive riverside site, we have increased the sustainability of the group and created a platform for further growth”.

January 5, 2024

  • Business & Economy

Created by North East Times