THE Antrim-based manufacturer Jans reported a 53% increase in turnover for 2023 as it continued to scale up its composites business.
The latest set of accounts for the growing group show it registered a pre-tax loss of £5 million on a turnover of £20.5m during the 12 months to December 31 2023.
It came during a period where Jans invested heavily on expanding its infrastructure, human resources and research and development capability.
Originally set up in October 2019 after Lisburn investor Peter Drayne acquired the Wright Group’s mouldings and metal fabrication division out of administration, Jans Group’s interests now span multiple sectors, overseen by its chief executive Ronan Hamill.
Alongside the manufacture of modular buildings, the group is active in both making and developing commercial and leisure vehicles via its ETRUX subsidiary.
Jans also manufacture GRP (glass reinforced plastic) products and has expanded into the design and build of waste recycling and material processing systems since acquiring the majority stake in Co Tyrone-based BlueMAC in late 2022.
The group’s main base of operations is its manufacturing facility at Caulside Drive in Antrim, where it has just built a new 120,000 sq ft factory.
Jans has also established one of the world’s longest continuous composite panel production lines in Moy.
In a report summarising its performance in 2023, the group’s directors said the year was one where the focus was placed on design, innovation and expertise in its own products, projects and services.
“The directors are confident that this focus will drive significant future growth.
“While demand in some key sectors was delayed while wider infrastructure was put in place, the group has focused on retaining capabilities, refining the product offerings and development the sales channels in the interim.”
The group said its gross margin increased from 17.6% to 22.4% year-on-year, driven by operational efficiency initiatives.
The directors also said the electric commercial vehicle market remains of “significant strategic value”, stating that the group is well placed to grow into the market in 2024/25.
“Strong sales growth is expected to continue over the next four years, as the group expands into its chosen markets,” added the directors.
“Key business development activities are planned to continue at pace and this capacity installation will continue into 2024 with returns expected to be delivered in 205 onwards.”
The directors said losses are expected in the short term.
The latest accounts published by Companies House show the Jans Group averaged 198 staff in 2023, with its wage bill rising 27% year-on-year to £6.125m.
