24.07.2007

Sevcon up 13%

Sevcon the producer of electric motor control systems that are widely used on battery powered aerial lifts, has reported a 13 percent rise in revenues for the first nine months of its fiscal year to $28.9 million.

The company says that seven percent of the improvement came from higher volumes, while six percent came from currency movements, most likely translating sterling into dollars.

Net income jumped by 31 percent to $1.14 million although this in this case the currency had a negative impact of $351,000. Without the currency fluctuation Sevcon says profits would have increased by 71 percent.