Home safety firm Sprue Aegis forecasts record year on strong demand
COVENTRY-based home safety products supplier Sprue Aegis has forecast a 35% full year increase in sales following strong demand for its products.
In a full year trading update the company said 2015 had been a record year for the business, reflected in both strong sales and operating profit being ahead of market expectations.
The board said it expected sales for the year ended December 31, 2015 to be approximately £88.3m (up 35% on the prior year) and the operating profit to be approximately £12.1m (up 16% on the prior year). These figures are subject to audit.
For the current year, it said it expected 2016 to be in line with market expectations, although the results were likely to be strongly weighted towards the second half of the year with sales into Continental Europe, UK Retail and UK Trade anticipated to be significantly stronger than in the first half.
The group’s new range of mains powered products went into full production in December after production set up issues which delayed the full launch of the product range during the year. Sprue’s hard wired SONA and FireAngel Pro branded product sales in 2015 were approximately £0.2m in total (2014: £nil) but are expected to increase significantly in 2016.
The Nano-905, the company’s miniaturised version of its established carbon monoxide sensor, was incorporated in seven year ‘sealed for life’ carbon monoxide detectors sold in December 2015 and is being rolled out across Sprue’s carbon monoxide product range in the first half of this year.
The company said it was pleased with the progress of its connected homes strategy to wirelessly connect Sprue’s home safety products to the internet using its Wi-Safe II technology which allows remote monitoring of Sprue’s products over the web.
Sprue said it was committed to continue to develop its own technology in-house and to deliver innovative, technology led, market leading home safety product solutions to position itself as the market leader in each of the markets it serves.
Further details on the company’s progress will be provided in mid-April 2016 when it publishes it full year results for the year ended December 2015.
