Gripple announces five-year plan to continue its impressive growth in 2017
At its 2018 AGM, Gripple Ltd, the Sheffield-based, globally successful manufacturer of the iconic wire fastener, celebrated a record profit in 2017, from sales increasing by 22% totalling £67m, and also announced a five-year programme to secure even greater success by 2021.
For the first time Gripple’s AGM was not held at the employee-owned group’s headquarters, the Old West Gun Works, but at its new training academy, GLIDE House.
The event, attended by more than 200 staff and fellow shareholders, was ‘streamed’ across the world, including countries where Gripple has bases – USA, France, India, Poland and Canada.
Following his introduction, chairman Hugh Facey passed over to the Gripple managing director, Ed Stubbs, who promised and achieved a five-minute speech, thanks amusingly to a five-minute egg timer checked by Hugh!
Ed spoke of the main reasons for Gripple’s growth in 2017: “We’ve seen record breaking results in terms of profit and our share price. This is no doubt due to investment in more than 100 new employees, excellent performance overseas, opening a new Sheffield factory and training academy, and solving more problems with even more innovative products.
“More than £60,000 has been donated to 100 charities at home and abroad as well as staff’s charitable effort.”
The AGM ran concurrently with the company’s other companies Loadhog and GLIDE, the private, employee owned company.
Shaun Khan, general manager of Loadhog, Sheffield returnable packaging manufacturer, spoke of the reasons for the company’s recent successes in achieving a £9.5m turnover in 2017, representing an increase of 26.6% over the previous year..
James Sallows, chairman of the GLIDE board, named its newly elected members, gave details of the company’s present finances and announced the total membership as 800, including staff not only from Gripple and Loadhog but also from Gripple Automation, PMS Diecasting, Go Tools and Laser Scanning.
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