Automotive deals boost Unipart results

Unipart Group has announced that turnover increased to £917.3m last year, with profit before interest and tax up to £12.2m.

Group chief executive officer Darren Leigh said: “Despite the global challenges affecting economies and supply chains, 2022 was a positive year for Unipart, with double-digit revenue and earnings growth across our business. We responded to the economic headwinds with courage and agility, and we start 2023 with a strong orderbook and are ideally placed for long-term sustainable growth.

“We continue to be a proud British company and we continue to invest in the UK. We have a long history of partnering with our customers, and we are delighted to have been awarded a number of contracts in 2022 with both new and existing customers, particularly in the UK. New business wins with JCB and Airbus, and the new Mercia Park aftermarket logistics operation we are opening for Jaguar Land Rover, will see around 2,000 people joining Unipart’s highly engaged workforce this year.

“Unipart’s electric vehicle battery production joint venture Hyperbat announced an exciting new contract to manufacture battery packs for the new all-electric Lotus Evija in Coventry, demonstrating the cutting-edge capability we have in a fast-accelerating sector of the automotive industry.”

Unipart Group executive chairman John Neill added: “Our greatest strength doesn’t appear on the balance sheet. It is the culture we have built together, strongly characterised by our fellow employees, who are keen to embrace change and curious about technology, which in an era of fast developing artificial general intelligence and the transformational opportunities it brings for our colleagues and customers has never been more important.”