Sales growth in all territories for BWA
BWA Water Additives, the Manchester chemicals group sold for £185m in June, swung from a £2m loss to a profit of more than £2m last year.
Newly-filed accounts for the year to December 2010 show the Stretford-based company grew sales 14.5% to £50.4m as pre-tax profits came in at £2.6m. compared with a £2.1m loss in 2009.
Operating profits, before interest charges of £5.2m, soared from £2m to £7.9m.
BWA was bought by US-based investor Berwind from Bahrain investment bank Seera.
The company is a global supplier of speciality chemical products and technical advice to industrial water treatment and water desalination markets in 80 countries.
The accounts reveal sales growth is all key markets – EU £13.2m from £12.1m, the US £3.7m from £2.1m and the Rest of the World where revenues climbed from £29.7m to £33.5m.
BWA, which employs around 40 people, is involved in research and development and sales and marketing, and outsources the manufacturing process to third parties.
Chief executive David Cartmell said BWA’s commitment to R&D had under-pinned its growth, and such investment would continue to be a “prerequisite for success in the medium to long term future.”
