Small Businesses Ideas 070

Radiators Warm to £300million Fortune!
For Martin Naughton

Name: Martin Naughton

Age: 59yrs.

'Foolish' idea: Manufacturing electric radiators.

How Idea was Launched:

Martin started out in 1973, by making electric radiators in competition with Dimplex. He took the company over to create Glen Dimplex, which is based in Dublin, but has factories throughout the UK.

The company employs 6,000 staff and sales are more than £500million. In 1998, the Glen Dimplex Group bought 3.5% of Hampshire-based Kenwood. The business is famous for kitchen items, including kettles and toasters.

Earnings: Martin owns 74% of Glen Dimplex. Sales £500million (1998).

Worth £300million (1999).

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