Manroy Plc, the UK’s largest maker of heavy machine guns, has increased profits substantially over last year. Share prices are up. Manroy has gone from having a loss of £33,000 in the six month ending March 2010, to a profit of £1.14 million in the same period this year.
Manroy does not publicise the destination of its sales but is known to sell machine guns to the regime in Saudi Arabia. It is the largest supplier of machine guns to the UK, and is believed to have a close association to the UK Ministry of Defence.
CEO Glyn Bottomley claims that Manroy ‘does not accept orders from any embargoed country’, and only sells to countries on the UK’s list of acceptable recipients. (What he does not mention however is that until recently the Ghadaffi regime in Libya was on the UK’s list of priority customers. Bottomley has previously stated that Manroy has not sold machine guns to Libya. Is it possible that the shifting relationship between the UK and Libya has deprived Manroy of a market that it intended to enter?)
Manroy claims that certain events, (probably meaning the ‘Arab spring’ ) have delayed orders, but that these orders will likely be placed in 2012. Manroy also claims that it is well placed to expand its sales to the US military.
In its notes to the consolidated financial statement, Manroy PLC list the UK as the source of 82% of its sales in the last six months, (ending March 31, 2011) 16% to European customers, and 2% to North American customers.
Manroy claims to sell machine guns to several different countries. Other than the UK, US, and Saudi Arabia, it is not clear who are the other recipients of the Manroy exports. Because Manroy does not generally disclose its actual or intended customers, it isn’t clear who are the actual recipients of Manroy machine guns. But we can presume that the possible recipients will be any country not embargoed by the UK.
A 2006 article in the Guardian lists some of the countries on the UK priority list for arms exports, including Iraq, Libya, Colombia, Thailand, Saudi Arabia, and Kazakhstan.
Rt.com reports that the UK has okayed arms sale to 15 Middle East and North African regimes since January 2009, including sales to Saudi Arabia, Bahrain, Egypt, Algeria, and Syria. UK suppliers sold the Ghadaffi regime of Libya £100 million worth of arms since January, 2009. While a number of these countries are now embargoed, it is likely that several others will be on the potential list of customers for expanded Manroy arms sales in the future.
Manroy recently received a £4.1 million contract to supply UK MOD with blank ammunition.