Double Digit Growth Expected for Norkem

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Cheshire based Chemical distributor Norkem announce interim growth forecasts for 2011 to be in line with expectations, and International operations to make a continued and significant contribution to future growth.

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The group is focused on growth in 2011 with the expansion of activities in existing worldwide offices while exploring opportunities to open further offices in new territories.

CHEMICALS distributor Norkem Holdings expects another year of double-digit growth after seeing sales in 2010 increase by 40% to top £100m for the first time ever and pre-tax profits soar more than 25 per cent, the company said today.

Norkem, which is based in Knutsford, Cheshire, enjoyed bumper revenue growth in the UK and overseas during a record year, which included the opening of an office in Australia, entry into new markets in Brazil, Turkey, Malaysia and the Baltic states, and the launch of new several products.

The firm supplies chemicals to food manufacturers and pharmaceutical companies as well as sectors including animal feed, agrichemical, metal treatment, catalyst, rubber and ceramics.

Turnover rocketed 40 per cent last year from £73m to £102m while pre-tax profits climbed from £1.52m to £1.94m.

Operating profits from continuing operations were up from £1.8m to £2.5m.

UK sales were up from £30.3m to £38m and from £42.75m to £64m in the rest of the world.

Norkem, which celebrated its 40th year in business in 2010, established a presence in Sydney to add to its offices in Spain, Holland and China.

Over the next 12 months it is looking to launch operations in France, with an opening in Italy also in the pipeline. Norkem, which ended 2010 with 74 staff and has since increased its workforce to 90, was established in 1970 by chairman Mike Smith and the late Ron Colling.

Group finance director David Robinson said Norkem increased from 35 to 50 the number of countries in which it sells its chemicals.

The company said: "The group is focused on growth in 2011 with the expansion of activities in existing worldwide offices while exploring opportunities to open further offices in new territories."

Mr Robinson said trading in the first half of this year has been in line with expectations and that Norkem expects to achieve another solid year of double-digit growth in sales and earnings.

For more information see M.E.N

About Norkem
Privately owned, Norkem was established in 1970. Their head office is located in the UK, with additional offices in The Netherlands, China, Spain and Australia plus worldwide production and storage facilities. To Learn more visit http://www.norkem.com

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Graham Heath
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