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Carmaker Morgan trebles profits

Niche sports car maker Morgan Motor Company trebled its pre-tax profits in 2009 while sales grew 20%.

According to a report in the Financial Times that cited Companies House numbers, the Malvern-based company saw full-year 2009 pre-tax profit treble to £661,209 on turnover of £26.8m, up from £22.1m the year before.

Morgan, headed by Charles Morgan, grandson of its founder, has ridden out the downturn affecting most of the global automobile sector partly because of its unique operating strategy, whereby it only makes cars after buyers have ordered them and put down a significant deposit.

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