Sprue Aegis doubles income
Safety products supplier Sprue Aegis has more than doubled turnover in the last year from £14.4m to £29.9m. The Coventry-based company said it expects to embark on a recruitment drive following the upturn.
Profit also rose by 53 per cent from £2m in 2009 to £3.1m in 2010, said the company.
The company specialises in designing and distributing smoke alarms and carbon monoxide detectors throughout the UK.
Group finance director John Gahan said over the last four years turnover has increased from £3.6m to £29.9m.
He said: "We are pleased to have achieved a record set of results for the group and with net cash of £4.5m in the bank, we are in a strong financial position.
“Last April we were appointed as the exclusive European distributor for the safety products supplied BRK Brands Europe, and we’re now selling four brands – FireAngel, First Alert, BRK and Dicon – throughout Europe."
Sprue Aegis revealed its year-end results at its AGM in Coventry's Ricoh Arena.
The company, which is located at the University of Warwick Science Park, employs 63 people in the UK.
