Schrader Elec­tron­ics

Belfast Telegraph - Business Telegraph - - News -

Out­put and prof­itabil­ity at Schrader Elec­tron­ics in the year to De­cem­ber 2017 was lower than in 2016. How­ever, the com­pany con­tin­ues to op­er­ate suc­cess­fully with man­u­fac­tur­ing units in Antrim and Car­rick­fer­gus.

Un­til Septem­ber 2010, Schrader was a wholly owned sub­sidiary of Tomkins plc, reg­is­tered in Eng­land, which was then pur­chased by the Dutch reg­is­tered Pinafore Co­op­er­atief UA. In Oc­to­ber 2014, own­er­ship passed to Sen­sata Tech­nolo­gies, also in the Nether­lands. Then in March 2018, the par­ent com­pany trans­ferred its reg­is­tra­tion back to the UK as Sen­sata Tech­nolo­gies Hold­ings plc.

In the last three years, pro­duc­tion rev­enue has sta­bilised, af­ter some years of rapid growth. Op­er­at­ing and pre-tax prof­its, whilst still sig­nif­i­cant, have fallen back from the peak lev­els recorded in 2015.

The busi­ness of the com­pany is the de- vel­op­ment and man­u­fac­ture of re­mote tyre pres­sure mon­i­tor­ing sys­tems for ve­hi­cles and other elec­tronic sens­ing tech­nolo­gies for the au­to­mo­tive in­dus­try.

In 2017 there was a small fall in turnover. This £6m re­duc­tion was a con­se­quence of a £39m fall in sales to the United States largely off­set by in­creased sales in other mar­kets.

Ex­pen­di­ture on re­search and devel­op­ment con­tin­ues at a high level. In 2017, R&D spend­ing rose to £18.4m from £17.1m a year ear­lier.

The bal­ance sheet value of share­hold­ers’ funds rose sharply in each re­cent year. At the end of 2017, as the ac­cu­mu­la­tion of re­tained post-tax prof­its were added to re­serves, they reached nearly £224m. No div­i­dends were paid to share­hold­ers dur­ing the year.

Cap­i­tal spend­ing in 2017 fell to £5.2m from the record level of £17.3m in 2016.

The av­er­age num­ber of em­ploy­ees in 2017, at 1,387, was slightly lower than a year ear­lier.

The com­pany is an award-win­ning busi­ness for health, safety and en­vi­ron­men­tal man­age­ment.

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