Dundee firm eyes growth to 2020 after sales jump

A private equity-backed manufacturing firm is targeting “significant” growth by the end of 2020 after seeing sales orders jump by a quarter.

Dundee-headquartered Pryme Group, which aims to become a major player in the oil and gas, defence and aerospace sectors, said sales orders hit £17.5 million for the year to March, marking a 23 per cent year-on-year jump.

Chief executive Angus Gray added that increased demand from the oil and gas sector saw revenue growthofmorethanafifth.

The business also announced the promotion of Murray Kerr to the newly-created role of chief operating officer, while Kerrie Murray has joined as chief financial officer.

Pryme aims to grow through organic growth in the UK and overseas as well as strategic acquisitions.