Derby-based component maker Gardner Aerospace reports that its turnover increased and its pre-tax profits almost doubled in the year to 31 August.
The Rolls-Royce and Airbus supplier said it had been “a sound year”. Newly filed accounts reveal that its turnover from continuing operations increased from £116.9 million to £131.8 million, while its pre-tax profits increased from £7.5 million to £14.8 million.
A statement signed off by chairman Nick Sanders said that continued investment was responsible for Gardner’s “high level of operational efficiency and the further expansion of some of its manufacturing facilities to address growing demand.
The financial performance of the business is very positive, and the balance sheet has been further strengthened. The board believes that the business is well placed to benefit from the aerospace-sector growth, with both existing and new customers.”
As well as Airbus and Rolls-Royce, Gardner’s customers include GKN, Triumph, Spirit and Sogerma. The group was established in the 1950s and has sites in Derby, Hull, Basildon, Pershore (Worcestershire) and Broughton (Flintshire). It employs an estimated 1,400 people.