Sales boost for GRI

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GRI Group, the Sheffield-based chemicals manufacturer and distributor, has increased sales from continuing operations by 54 per cent to £115.5 million.

The company, which acquired Manchester-based Libra Chemicals at the end of 2010, recorded earnings before interest, tax, depreciation and amortisation of £10.6 million in 2011.

Chairman and chief executive Graham Royle said raw material, fuel and energy prices had continued to rise, putting more pressure on margins, but GRI had strengthened its working capital and liquidity.

“We operate in very challenging global markets but benefit from exceptional customers and suppliers,” said Mr Royle.

“Our ongoing investments in our staff, product development and capital assets will ensure that we are poised to benefit from the economic upturn that will hopefully start to show through in 2012.”