WORKERS at Ultraframe can look forward to a bumper Christmas thanks to the company's stock market performance which has helped turn an investment of a few hundred pounds into more than £65,000.

Staff who have held on to the average windfall of £20,000 worth of shares they bought for an average stake of £250 just over two years ago have seen it more than treble.

After announcing record results last week, Ultraframe shares reached their highest ever level of more than £4.80 compared with the £1.60 that they first began trading at on the stockmarket in October 1997.

Shares before the flotation were offered to employees by founder John Lancaster at what turned out to be a fraction of their market value. More than 95 per cent of the then 500-strong workforce took up the offer of an allotment based on length of service.

Under the terms of the share offer to employees, they were allowed to sell half of their holding immediately when it floated but they only opted to sell about 25 per cent.

Although many staff will have since cashed in the profits on some of their shares they still own a considerable slice of the company. They have turned every pound they invested in the firm prior to flotation into £260 now - a staggering investment return.

Last week Ultraframe announced record results with a 18.4 per cent jump in profits. to £22.27 million in the year to October 1 compared to £18.81 million in 1998.

The firm, which now employs 600 hundred people in the Ribble Valley, said sales in Europe had been maintained while efforts were being concentrated on its joint venture in North America with Royal Group Technologies Limited.

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