With the continuing double impact of Brexit and COVID-19 on the economy, ATL Turbine Services, a Dundee based turbine component repair company, has posted a significantly improved set of results for its financial year ending June 2021. Whilst turnover remained fairly static at £7.4M, profitability rebounded strongly from 2020 to just over £1.3M, a 39% increase.
Dale Harris, ATL CEO commented, “Like all companies, ATL has had its challenges this year but our team has responded superbly to these and whilst Brexit and coronavirus related issues continue to add significant cost to the business, we have been able to maximise efficiencies and raise profitability back to pre-pandemic levels.”
Harris continued, “In amongst all the challenges, we have also had some great successes, winning the Service Business of the year at the Courier Business Awards and the Scottish finals for the British Chamber of Commerce ‘Global Player’ award. ATL continues to build on our excellent customer relationships and has just secured two contract extensions with separate OEM customers. One is a five-year extension that takes us through to December 2026 and the other is a two-year extension to December 2023. Together, these contracts are worth up to £6.5M and will help provide ongoing growth and job security. Another testament to the great work done by our whole team.”
Export business fell slightly in the year from a third of turnover in 19/20 to 28% in 20/21, an impact that Harris puts squarely down to Brexit. He explained, “exports were undoubtedly impacted by customers having to get to grips with new legislation and ways of working that led to them reining back on their usual volumes. We are seeing these beginning to rebound now but less efficient home working, the ongoing impact of COVID self-isolation in our overseas customers and added Brexit bureaucracy makes processes take much longer than usual.”
Harris sees much to be positive about in the future with additional contracts being discussed and plans to enter new markets being backed up with continued CAPEX and training investment.
ATL works across the defence aviation, civil aviation, industrial and marine sectors and employs 82 people at its Baldovie site.