Bury equipment firm sees 23% pretax profit boom as confidence rises

Lex Business Equipment, the Manchester-based provider of office equipment, stationery and furniture has celebrated surging revenues and profits.

The Radcliffe business increased its turnover by £210k and saw a 23% increase in pre-tax profits in the year to the end of August.

It is targeting an increase in turnover by a further £150k and a further 10% increase in pre-tax profit in its current financial year.

The family firm, established over three decades ago has also taken on a new specialist engineer, to support its service department in maintaining contracted printing equipment in the field, and are also recruiting for full time administrative apprentices.

Managing director Wayne Elphick said: “Whilst we saw a steady level of sales in 2012-2013 it was quite apparent that the economic downturn during this time had an effect on the purchasing behaviours of organisations.

“Firms were cautious to purchase new IT hardware and upgrade printing equipment for their businesses”.

“Our financial year end sales figures prove that businesses have rebuilt the confidence to make purchases of new equipment, where in past years their finances possibly wouldn’t stretch.

“Over 85% of businesses take advantage of the flexibility of leasing arrangements to spread the cost of equipment over a period of up to five years”.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →