It has been a “truly remarkable” year for UK-based cash-handling specialist Innovative Technology, managing director Aidan Towey revealed.

“The hard work and tough decisions we have made in previous years have really started to pay fantastic dividends, 2012 was a good year but this year has been spectacular,” he said. “Four years ago we took a long hard look at where we wanted the business to be and took a path that others quite frankly might have feared to take.

“These choices and the massive investment that we have made in recruiting the right people and technology has led to 2013 being a remarkable year for us.” Building work is now “well under way” on the Innovative Business Park in Oldham, near Manchester, which is to increase capacity and also house a variety of new off-shoot businesses. The company has also recruited for key positions within the business this year and further staff are expected to come on board as the company expands.

Those joining the company in 2013 have already has a “major effect” on product development, explained Towey.

He said: “2014 will see us bring a number of new, ground-breaking products to the market. The future is definitely looking bright for Innovative Technology and as we continue to grow we expect to create up to 40 new, exciting roles across the group next year.”