Record growth at Sprue Aegis

COVENTRY-based safety products supplier Sprue Aegis has reported a doubling in turnover over the past 12 months to £29.9m.
 
Profits rose 53 per cent from £2.0 million in 2009 to £3.1 million in 2010 at the company which designs, manufactures and distributes smoke alarms and carbon monoxide detectors and other safety related products throughout Europe.

The company, located at the University of Warwick Science Park, employs 63 people in the UK and it said it expected to increase its workforce during 2011.

Group finance director John Gahan said over four years turnover increased from £3.6 million in 2006 to £29.9 million in 2010.

“We are pleased to have achieved a record set of results for the group and with net cash of £4.5m in the bank, we are in a strong financial position,” he said.

“Last April we were appointed as the exclusive European distributor for the safety products supplied BRK Brands Europe Ltd, and we’re now selling four brands – FireAngel, First Alert, BRK and Dicon – throughout Europe.  

“Our customer base has also increased significantly and as well as distributing to huge retailers like B&Q and Tesco, we supply over 90 per cent of the UK’s fre and rescue services with safety products which they fit in people’s homes including specialist products for the hearing impaired.”

Graham Whitworth, Chairman and Group CEO, commented: “The growth potential for the company remains significant, we will maintain our strategy to invest in our proprietary technology and continue to produce market leading innovative life saving  products.”