Laser manufacturer has record £27m year

Laser manufacturer Rofin UK has achieved record turnover in what it calls an “excellent” year.

The Hull-based company returned revenues of £26.7m in the year to September 2016, up from £23.1m, as European business took off, offsetting a slight decline in Asian trading.

Pre-tax profits also rose to a record high, coming in at £5.5m for the year.

The company, a subsidiary of Rofin-Sinar Technologies Europe S.L, was set up in 1998 to develop and extend Rofin’s carbon dioxide laser product range.

The year saw a major change for the company, which moved from rented premises to an owned, purpose built facility of more than 800,000 sq ft. It cost £800,000 to build in 2016.

Adjacent land has also been acquired for further development.

After year end, Michigan-based Rofin-Sinar Inc, the US parent company of the manufacturer, was acquired by Coherent Inc, for $942m, when it delisted from Nasdaq.

Rofin-Sinar employs 134 people, and its highest-paid director raked in just over £189,000 last year, nearly £90,000 more than the year before.