Despite ongoing economic woes and continued supply chain related interruptions, which continue to blight the Automotive sector, Red Arch Manufacturing Ltd (RA) continues to show resilience in these testing times.
The recently concluded 2021/22 financial year resulted in slightly better than forecast performance as all marques looked to optimise the ‘high end’ more profitable models at the expense of entry level vehicles.
2022/23 is expected to show an increase of 28% in revenues, and with one significant project already underway and another expected to start in August 2023, revenues are expected to double from current year levels from 2023/24 onwards. This growth fully justifies the business decision several years ago to focus on ‘line side’ and diversify supply, moving away from the traditional ‘accessory/dealer fit’ components.
This strategy allows for better levels of business forecasting for RA and visibility of order book close to the end of the current decade, which is rare within any sector particularly given the current economic/political global landscape.
With the continued environmental focus, and shift towards alternative propulsion systems for all vehicles, RA continues to invest both time and R&D spend on the products and services of tomorrow. Despite the need for some caution in these turbulent times, RA remains hugely optimistic about the future with and without the internal combustion engine. Managing Director, Mike Theaker, comments:
“The business has evolved with the changes over time and will do so again. We are extremely proud as a business by our flexibility and capability which is a view shared by our customer base. RA has a solid base to build and develop, and we will continue to invest in future products and technologies reacting to ever changing customer and market demands.”