Pre-tax profits have jumped at Rapitypes client, Leicester-based metrology instrument manufacturer Taylor Hobson.
The company, which once supplied more than 80 per cent of the world’s lenses for film studios in the 1930s, has reported pre-tax profits of £23.1m for the year to 31 December 2018, up from £16.9m in 2017.
The company’s turnover dipped over the same period from £60.1m to £57.3m.
Turnover in the Leicester division increased by 7 per cent and operating profits surged by 94.7 per cent compared to 2017. The business said that gains in Asia and Europe accounted for the growth.
Distribution costs increased in the year in line with sales volumes due to a rise in sales and service support.
However, turnover for the Solartron ISA division decreased by 55 per cent to £5m which the business said was because 2017’s results were “distorted” due to the completion of an extremely high value order.
Taylor Hobson said that confidence in the industry has “continued to grow” and that large orders were received by Solartron ISA during the fourth quarter of 2018 and have continued into 2019.
The division made a loss of £1.3m during 2018 because of the stage of completion of contracts and lower value orders in the backlog at the end of the year.
In 2004, Taylor Hobson was acquired by Ametek Inc, a US corporation based in Berwyn, Pennsylvania, and is now part of its Ultra Precision Technologies Group.