Hill’s Panel Products achieved record sales last year thanks to new product development and a buoyant home improvement market.
The component supplier to the furniture industry has seen turnover increase by 17.5% on last year to more than £11m. The firm’s budget forecast was smashed by 12% and profits also increased substantially over the last 12 months.
The company is currently expanding its panel production facility at Oldham from 17,000ft2 to 25,000ft2 to accommodate three new machines.
It is also looking to open another operation and is in discussion about a possible site in the south.
Formed in 1991 by brothers Stephen and Martin Hill, Hill’s Panel Products provides melamine-faced products to kitchen, bedroom and office furniture manufacturers.
Its worktops, flooring, fittings and doors are supplied to more than 1,500 clients and more than 112 staff are employed at its sites in Oldham and Sheffield.
Managing director Stephen Hill said: “The last 12 months have been extremely good and we were well over budget. The growth is accelerating and it’s been one of our best years for a long time.
“We have achieved that by concentrating on what we do best. We’ve recognised a niche market and exploited it and are now very strong in our field.”
The company is looking to double the size of its vinyl wrapped MDF door production facility over the next 12 months and recruit 10 extra staff.
Mr Hill said a £350,000 investment in state-of-the-art machinery has helped the company break into new markets and added: “People are also spending more on home improvements and there is a general feel-good factor among home owners, which is helping boost our business.”