Kingsway move will boost healthcare company profits

Date published: 08/09/2008

An Oldham based healthcare company is expecting to increase profits by nearly 50% by the end of next year when it moves to an enlarged premises at Rochdale's Kingsway Business Park.

Vindon Healthcare hopes the larger storage space at Kingsway will enable the company to branch out into other areas.

The company are known for their controlled-temperature drug storage facilities but the space at the new site means they could expand to provide to store things such as old rare film stocks or even stem cells in their controlled-temperature environments.

Vindon's house broker, WH Ireland have forecast a turnover of £5.88million for this year, giving a pre tax profit of £1.69million, with a £2million profit expected next year.

In a note to investors WH Ireland said: "The new Kingsway facility provides ample capacity for growth in manufacturing and on-site stability storage. Importantly, it gives the space to accept a wider range of materials for storage under highly controlled conditions, giving the potential to deliver growth rates higher than those currently presented in our forecast.”

The new Kingsway site will double Vindon's manufacturing potential and allow them to offer a wider range of services to their existing clients.