A South Lakeland LED and componentry specialist has received an award recognising its work to double turnover in five years.

Oxley Group, in Ulverston, was given the All STAR best practice award by organisation Sharing in Growth.

A not-for-profit organisation, Sharing in Growth is supported by the regional growth fund and by more than £150 million in private investment.

More than 60 companies have taken part in the Sharing in Growth programme across the UK.

Each company participates in a training programme which focuses on leadership, culture and operational capability.

The programme is delivered by the organisation’s 100 strong team of business coaches and world-leading experts including The University of Cambridge’s Institute for Manufacturing, Deloitte, Industry Forum and the National Physical Laboratory.

At an event last Thursday Sharing in Growth awarded Oxley Group its Inspire trophy.

This was in recognition of its growth strategy which includes work to encourage its team to drive changes that will double turnover in five years and treble it in 10 years.

Oxley has also carried out work to encourage people into aerospace and STEM careers by supporting the Women in Aviation and Aerospace Charter and other programmes for young people.

Sharing in Growth chief executive Andy Page said: “Our aerospace sector is facing unprecedented pressures in terms of increased competition, as well as trade and environmental change so Sharing in Growth has a vital role as part of the UK industrial strategy.

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“The best practice case studies demonstrate the unrivalled effectiveness of our programme in creating sustainable growth for advanced manufacturing suppliers.

“We’ve now supported over 60 beneficiaries to secure more than £4 billion in contracts two years ahead of schedule. This is equivalent to over 7,000 jobs so we are well on target to safeguard 10,000 UK jobs by 2020. We are, without doubt, beating the productivity challenge.”

Minister for Business and Industry Andrew Stephenson MP said: “The programme is a great example of our Industrial Strategy in action. Sharing in Growth is a real success story for British industry and a crucial part of our efforts to improve productivity and competitiveness. Your innovative work showcases the best of the UK aerospace sector demonstrating why we are world leader in manufacturing and technology.”