Leading refrigerated vehicle specialist CoolKit has announced that their revenues grew by 21% in 2017- continuing a seven-year run of double-digit year-on-year growth despite a contraction in the light commercial vehicle market at large.
According to the Society of Motor Manufacturers and Traders (SMMT), the body which monitors trends of new van registrations, the overall market contracted by 3.6% – but CoolKit have bucked the trend with their own performance.
The past year saw their revenues exceed £12million for the first time. Growth in the sale of converted vehicles was the main driving factor behind the growth, with 360 vans sold, an increase of 11% over 2016.
CoolKit managed to secure orders for major fleets including AAH Pharmaceuticals, Iceland Foods, Marks & Spencer, Lex Autolease and Vanarama.
The company also secured top awards including Manufacturing Business of the Year and Business of the Year at the BIBA Awards – celebrating business excellence in Lancashire, and the Manufacturing Excellence Award at the Burnley Business Awards. Their product won the Refrigerated Panel Van of the Year Award, nominated by their industry peers.
During 2017, CoolKit also secured accreditations from world-class manufacturers including Toyota, Renault Trucks, Volkswagen Commercial Vehicles and Ford Motor Company.
Rupert Gatty, Managing Director of CoolKit, said: “The continued growth is testimony to our staff and their extraordinary commitment to achieving the company’s goals. They have worked tirelessly to deliver innovations and improvements which set us far above our competitors in terms of the capability of our insulated bodywork. Our first fleet order for new ultra-light ibox bodywork provided the user with the benefit of a demonstrable 1,200kg usable payload – a new industry benchmark.
“In 2018 we will be continuing to focus on delivering the best products and service to our customers, aiming for outstanding customer satisfaction and maintaining our reputation as the industry leaders in the refrigerated transport market.”
The relocation to new premises in 2016 trebled the company’s manufacturing operations to a 45,000 square feet area, creating one of the UK’s biggest panel van conversion facilities. In 2017, CoolKit acquired additional neighbouring premises of a further 25,000 square feet, which facilitates extra capacity and vehicle storage as well as enabling them to showcase their range of products to their customers in an exciting new format.
Now benefiting from an enhanced and re-organised sales team with specialisations in fleet sales, van retailing, aftersales support and export, CoolKit is well poised to command further substantial market share in 2018.