West Bromwich-based Rimstock (www.rimstock.com), a leading manufacturer of premium alloy and aluminium wheels, achieved a 17% increase in its sales (to £16.2 million) for the financial year to 31 March 2017.

As a result, its profits grew from £23,825 to £540,560. The company said in its report: “Trading activity with several key customers increased, with the commencement of a number of new car programmes.

"The business managed to not only grow turnover but also improve profit margins through careful management of direct costs.”

Rimstock is continuing with its growth plan, which it started in 2015 after receiving an RGF grant to develop its production facilities.

A new 100,000ft² factory is nearing completion, just yards away from its headquarters. This is expected to become operational by the end of March, and it is hoped that the 224-strong workforce will grow.

The company has also been investing ‘substantially’ in research and development, and it has recently launched
several new products.

It has a customer base that includes Aston Martin, Jaguar Land Rover, Toyota, Ford and Mercedes-Benz, as well as over 40 global motor-sport series under its Team Dynamics brand.