Tangerine thanks team with half-a-million bonus pool

Lytham-based Tangerine Group has recognised its team's contributions to a bumper year of sales with a £500,000 bonus pool.

The fund, which is £100,000 more than last year's, follows Tangerine Group increasing its annual revenues from £37.4m to £40.9m.

It is the 17th consecutive year Tangerine Group has made such a payment, which recognises length of service with the company.

This year, the pool will be shared among the 57 employees who have more than two years of service. Seventeen of these will take home the maximum payment of £10,000.

In addition to supporting employees, more than £1.6m of the group’s profits are set to be reinvested back into the business to support product development, further overseas expansion, and significant upgrades in the manufacturing facilities.

David Haythornthwaite, chairman of Tangerine Group, said: "Due to the hard work and continued efforts of our fantastic team, and despite rising energy costs and interest rates having a huge impact on our operating costs, we have once again been able to grow the business and maintain our profits at 2022 levels.

"All our employees make an invaluable contribution to the business and overall success of the Group, and this makes it incredibly easy to reward them for the 17th year in a row."

Steve Collier, who is in his 23rd year with the company commented: "It’s been amazing to be part of this journey. When I started there were just three of us working at a shed in Freckleton and look at us today.

"David has always been very generous with his staff and once again I’m very grateful for this as it makes a huge difference to me and my family."