Haynes Publishing Group, based near Yeovil in Somerset have reported growth in turnover and pre-tax profit after a 'very encouraging year' with revenue growing from £25.7m to £29.8m in the 12 month period ending 31st May 2017.

In December 2016 the group purchased OATS, a Swindon-based technology business which provides data to the lubricants sector of the oil industry for £2.4m. The acquired business added £1m revenue and £100,000 pre-tax profit.

Eddie Bell, chairman of Haynes Group, said: "2016/17 has been a very encouraging year for Haynes. We have implemented a major restructuring programme that has significantly lowered the group's fixed cost base. The new executive management team has delivered on their financial targets and the group has realised strong underlying revenue and profit growth.

"Following the acquisition of OATS, a leading global lubricants database, we have strengthened and broadened our professional product offering, whilst our considerable investment in consumer digital initiatives has established a clear path for future growth."

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