Mannock's revenues increase by 16% despite 'substantial margin compression'

Mannock's revenues increased by 16% last year, despite "substantial margin compression" as a result of cost inflation.

Key cost drivers included energy prices, which rose by 66 per cent.

However, revenues increased from €233m, to €270m.

Mannock says this reflects "good volume growth and customer demand".

In its 2021 overview, the report says Mannock invested €12.7m last year, to bring total investment since the acquisition of the business in 2014 to €78.5m.

Mannock also published its "2030 vision", which will see the company invest more than €200m in green technologies to reduce carbon emissions by 33 per cent by 2030 and achieve net zero by 2050.