Loads to be excited about at Aberdeen firm as turnover grows

Bosses at an Aberdeen load monitoring equipment firm have said they are “proud” of how far the business has come in a short space of time.

Managing director Kirk Anderson and sales director Millar Kennedy set up Load Monitoring Systems (LMS) in June 2016, during a time of “uncertain” market conditions.

They said LMS invested about £500,000 in rental assets and the relocation from a base in Ellon to a larger facility in Bridge of Don in September 2018.

The move helped LMS take on more work and accommodate its growing team of 10 employees.

The company surpassed £1 million in turnover in the 12 months to March 31, 2019, an increase of 180% compared to the 2016-17 financial year, the businessmen claimed.

More than half of LMS’s turnover comes from overseas trade. The company has supported lifting operations in dozens of countries and has developed an extensive distributor network.

LMS’s management intends to make further investments in equipment, as well as securing more distributors in different regions.

Company bosses also believe diversifying into decommissioning work can lift revenues even higher.

They are confident LMS can support cable recovery jobs, and subsea structure removals and dismantling.

To support the growth spurt, LMS expects to hire another four people in the next six months.

Co-founders Mr Anderson and Mr Kennedy previously worked together at a division of north-east manufacturing firm Power Jacks.

They acquired the division in 2016 in a management buyout before naming it LMS.

Mr Anderson said: “Having established our business in the face of market uncertainty in 2016, we are extremely proud where we have come so far, achieving significant growth milestones.

“We expect to accelerate our performance even further into 2019 and beyond, with further in-vestments as we expand our rental fleet and capabilities as well as introducing more distributors and target new territories.

“Everyone has worked hard, and the growth of our workforce is a clear demonstration of our success.”

LMS has been shortlisted for the Small Company of the Year award at The Press and Journal’s 2019 Gold Awards in next month.

Source link

Craigmill, Pitcaple, Inverurie, Aberdeenshire, United Kingdom, AB51 5HP
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram