Sales and staff rise in Foodmek’s Covid recovery
Birthday boost: staff at Foodmek
Engineering company Foodmek has seen a sharp rise in revenue after a loan from Scottish Enterprise was used to invest in new equipment and staff.
The Tayport firm which serves the food, drinks, cosmetics and pharmaceuticals industries, received £500,000 from the development agency in November 2019.
It invested in research and development and raised headcount from 32 to 43.
The company, which is marking its 50th anniversary, was able to bounce back strongly from a decrease in orders caused by the Covid-19 lockdowns around the world.
Turnover has risen 13% in the current financial year ending this month and the company is forecasting a 33% rise in the next year.
Managing director, Scot Kelly, said: “Thanks to our success in the current financial year, we met all the requirements from Scottish Enterprise to draw down the second tranche of our Scottish Loan Scheme loan.
“Funding from The Energy Saving Trust has also enabled the purchase of an electric pool car for customer visits – part of Foodmek’s net zero sustainability strategy.”
Orders from existing and new food industry customers have also driven Foodmek’s progress. Further orders are expected soon, adding to its healthy order book.