ACE Winches Announces Profits Increase (UK)

ACE Winches, the deck machinery specialists, announced post tax profits of £6.2m for 2012, a 15 percent increase on the previous year.

Turnover at the Aberdeenshire-based group soared to £31.1m in the year ended 31 October 2012, a 42 percent increase on the previous twelve months, with around three-quarters (74 percent) of the company’s business generated from international trade.

ACE Winches is a global leader in the design, manufacture and hire of winches, marine deck machinery and the provision of associated hire personnel for the offshore oil and gas, marine and renewable energy industries. Earlier this month ACE Winches secured a Queen’s Award for Enterprise for International Trade, its second award in this category in three years.

The company has continued its commitment to invest in growing the business by extending the scale and capability of its hire fleet with capital expenditure of £2m. This investment coupled with the £7.1m the company spent in 2012 on the development of the group’s manufacturing and hire division facility lays the foundation for future strong growth and expansion.

ACE Winches also completed the development of its global headquarters on its 24-acre Towie Barclay Works campus near Turriff in 2012.

Commenting on the continuing growth of the company, Chief Executive Office, Alfie Cheyne, who founded the business in 1992, said: “Despite the difficult economic conditions in 2012 – both at home and abroad – ACE Winches has managed to deliver remarkable growth. We are developing greater strength in all areas of our business, in particular our Service division and through our ACE Winch Academy, and our core business in the manufacturing and hire of winch packages remains strong. Globally we are reaching out to customers with new projects in India and Asia as well as in our home European markets delivering high-specification bespoke and standard equipment worldwide, quickly and efficiently.”

During the 2012 financial year staff numbers increased from 200 to 253. ACE continued to set new records with the highest intake yet of Modern Apprentices engaged on the company’s IMechE- accredited apprenticeship scheme. Forty-one apprentices were employed on the four year programme which covers technical and craft skills as well as business administration. Six members of staff were graduates undergoing the ACE graduate engineering scheme and a further 12 were engaged in a Trainee Program.

ACE Winches is committed to providing active support to local community initiatives and fundraising, including the adoption of four local charities, sponsorship of a number of teams at the local football club, and sponsorship and donations to a number of other local groups.

Cheyne said: “As a major employer in the area, the company recognises the influence it has on the local economy and community. Our objective remains securing the long term future of the company for the good of all those that work here. We are confident that the long term future looks bright.”

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Press Release, May 03, 2013