Tenfold profit rise for Briggs

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Materials handling equipment supplier Briggs Equipment reports a tenfold increase in profits over the past year.

Briggs Equipment has seen profits rise from £300,000 in 2010 to £3 million in 2011. At the same time, turnover has increased by 17 per cent.

Briggs announced in June 2010 that it would become sole national distributor for Yale Materials Handling, replacing its existing Caterpillar Lift Truck distributorship.

Chief executive Richard Close said at the time: “In these difficult times, it is now particularly necessary for our organisation to review our growth strategy.”

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