Reflex Marine Reports 52% Growth
Reflex Marine reported 52% growth in the last year through expanding global markets. Reflex said it has reached £5.8 million turnover, almost double its forecasted growth of 27% - with a profit before tax of around £1 million. Reflex Marine will donate 7.5% of its net profits (a record c.£56,000) to charitable causes via its not-for-profit Reflex Foundation.
Reflex Marine supplies crew transfer devices and associated services. Its main products are the FROG and TORO – capsules that hold between three and nine crew-members to transfer them safely between a platform and vessel using a crane. Its growth has been enhanced through a growing network of distributors and accredited service centers across the world, which now represents around half of the company’s revenue.
Philip Strong, chief executive and founder of Reflex Marine, said, “Over the past year we have focused on extending the level of support that we can offer to our global client base and we are delighted with these results, which have surpassed our expectations."
He added, “Our goal is to improve safety and professionalize marine transfer activities across the range of industries that rely on marine access, often in very challenging conditions. From our base in Cornwall we are positively impacting marine based crew logistics across the world and providing a safe and efficient alternative to helicopter transfers."
Asia and Europe represent strong markets for Reflex Marine’s products, collectively representing 64% of income. The company also exports to Africa, the Middle East, North America and South America.
Reflex Marine currently employs 26 people in its head office in Truro, Cornwall, and in Houston. The growth is expected to result in the creation of 10 new jobs – two in the U.S. and the remainder in the U.K.