Acorn Stairlifts Sales top £224 M in 2018 to Sept 30th. Most sales are in the USA
Updated: Aug 23, 2022
Most of the sales, 71% are from export profits even though the stairlifts are manufactured in the U.K.. John Jakes is the company's founder and current chairman.
Acorn now manufactures over 70,000 stairlifts annually in their factories and they export to over 80 countries including the USA where it now has a major market share.
It now has 1536 employees worldwide.
Acorn’s objective to enter new geographic markets and improve market share, continuing to develop its expanding global reach.
Alongside the turnover and profit growth there was also a growth in dividends paid, up from £19 million in 2017 to £20.8 million in 2018, with post-year-end interim dividends of £12.6 million also being declared.
In contrast, the company invested £75,000 in direct research and development projects in the year ended September 2018, a marginal increase on the previous year’s £69,000.
In total, the company has paid out £97.5 million in dividends in less than a decade and John Jakes, who now resides in Monaco, remains the sole shareholder for the stairlift giant, with all dividend payments going to him.
His net worth is estimated to be £210 million
John Jakes is now in the top 500 Richest people in the U.K.
See the list here: https://www.thetimes.co.uk/sunday-times-rich-list