Exports keep EDM busy
NORTH Manchester-based pilot training and flight simulation company EDM grew pre-tax profits by 8% to £1.4m in 2011 despite a slight fall in turnover to £12.1m (£12.3m).
The company employs 104 staff and chairman Francis Caldwell said that its figures represent an “excellent trading performance given the international climate”.
Writing in the notes to its newly-filed accounts, Mr Cardwell said: “EDM has now established strong trading relationships with key international customers and has secured prestigious contracts in the US, China and the Middle East whilst maintaining ongoing trading in Japan and Europe.
“The diversity of our trading profile will provide the platform for the development of a successful trading year in 2012.
EDM has been owned by Mr Cardwell, chief executive Kevin Bird and commercial director Tony Bermingham since a £5m management buy-out backed by private equity firm 3i in 2004. It began life as a model-making business but now provides aircraft simulator training both for military and commercial aviation staff. It also sells simulation software to firms in the sector.
The bulk of its sales (over £10m) are made to overseas companies and the business won an award from the Engineering Employers’ Federation last year for its export efforts.
