Pelican Engineering Group, a Yorkshire-headquartered fourth generation family business, has reported a 70% uplift in turnover year-on-year.
The Castleford-based business, which was founded in 1919 and employs 165 staff, supplies commercial vehicles, electric buses and electric and diesel coaches.
Its latest financial results show turnover rose from £43m last year to £73m for the year ending 31 March 2022 with the company benefiting from growth across all its business operations, including record revenues at its DAF and MAN truck dealerships.
It has also seen growing momentum as local authorities and passenger transport operators transition to zero-emission electric coaches and buses. The diesel coach business is also recovering after the devastating effects of Covid-19 on the coach industry.
In addition, the group achieved operating efficiencies which helped profits increase to just over £6m despite tighter margins.
Pelican is continuing to invest in its infrastructure, recently announcing a £2m project to build a new showroom, offices and workshop in Castleford.
The development will provide increased capacity to commission and fit out the Yutong electric buses and coaches the business supplies throughout the UK, complementing the group’s existing showroom which will continue to be used for some bus work and also as overflow space for Pelican’s nearby DAF dealership.
Richard Crump, managing director, said: “After the disruption of the last two years, we are seeing all parts of the business recovering well and will be re-investing our increased revenues and profits in further improving our plant, resources and people to better support our customers in the future.
“Despite being possibly the oldest commercial vehicle dealership in the country, we are at the forefront of introducing the very latest electric vehicle technology to the UK market.
“As well as the significant investment in our new showroom, we are also investing in warehousing and parts distribution facilities with more new development activity to be announced shortly.
“Since 2020, when we delivered our first zero-emission bus, we have grown our share to over 10% of the UK market for all-electric passenger vehicles and become one of the largest suppliers nationally.”