Aerospace group Gardner (www.gardner-aerospace.com), which has a facility in Hull, reports that its sales reached £113 million in the year to 31 August, while its pre-tax losses declined by almost £8 million to £868,000.

Nick Guttridge, vice-president of business development, said that these healthy results were due to an extensive programme of investment in its subsidiaries, as well as the expansion of its facilities in Poland and India.

“All the improvements we have made are starting to come through to our operating figures, and the hard work is really starting to reflect in the financials.”

Meanwhile, engineering group Bodycote has also reported strong annual results. The Macclesfield-based business, which heat-treats jet-engine turbine blades and other aircraft and car parts, employing more than 5,700 people in 26 countries, reported a 5.4% rise in its full-year pre-tax profits — from £98.4 million to £103.7 million.

However, its revenues declined by 1.7% to £609.1 million in the year to the end of December.

Chief executive Stephen Harris said: “The group delivered another good performance in 2014. A number of macro-economic uncertainties persist, but the board believes that the strength of the group’s specialist technologies and the management’s continued focus on business improvement — particularly in the classical heat-treatment business — should enable further progress in 2015.”