Camlin Group announced today strong growth across its core operating markets of Energy and Rail Sectors and predicts substantial future revenue and profits for 2021/2022.
Revenue across the Camlin Group has grown to over £40M, with an underlying growth rate of 20% vs prior year. The company also reports a Group-wide profit of £4.7M for the year.
Peter Cunningham, Chief Executive of the Camlin Group, commented; “We’ve made some fundamental changes to the structure and strategy of the business over the last 18 months with a clear direction and focus on our customers’ evolving needs within the Critical Infrastructure markets in which we operate as they look to rapidly decarbonise. This has led to both a significant growth in total orders in 2020, of which over £26M were convertible in year, as well as substantial secured orders generated for future years.”
Growth has been driven across all of the company’s core operating divisions with significant demand drivers internationally, predominantly from North America and China, for its Energy asset monitoring solutions.
The company’s UK energy fault and load management business, Kelvatek, also continues to show strong profitability and continued year on year growth, especially via securing key partnerships and innovation projects within the UK Electricity regulatory ED2 framework. Significant orders have been secured for conversion in 2022 and beyond.
Camlin Rail continues to grow internationally into 2021 with over 50% growth predicted in top line revenues for 2021 in line with the increasing demand for products and services to support Rail operators move towards Digital Railways.
Despite difficult trading conditions during the COVID-19 Pandemic, Camlin has been keen to work closely with its entire supply chain to ensure demand can continue to be met to customers’ timelines.
Peter Cunningham commented; “During the challenging times in 2020, operationally we have doubled down and worked closely with our suppliers to secure supply, ship products worldwide and continue the production of high-quality products to our customers.”