Growth continues at Preci-Spark

Company makes components for Rolls-Royce's XWB engine

Revenue and pre-tax profits have grown at the company, new accounts have revealed.

Preci-Spark, which has its headquarters in Leicestershire, has reported revenue of £35.7m for the year to 31 December 2018, up from £33.9m in 2017.

The company's pre-tax profits also jumped from £385,669 to £719,383.

A statement signed off by the board said:

"Overall, the combined company revenue has increased by 5 per cent.

"This represents a continued up-turn in the company's core revenue stream in the aerospace market derived mainly as a result of an increase in export orders.

"The directors anticipate that the business environment will remain competitive and they believe that the company is in a good position to prosper through their ongoing investment in innovative production and manufacturing techniques achieved by employment of the most cutting edge technology and a highly skilled and dedicated workforce.

"The directors remain committed to an ongoing programme of capital expenditure and continued focus on quality assurance and on time delivery to ensure that they provide first class products to customers in conjunction with exploring new markets."

Preci-Spark was established in 1960 by chairman Ralph Jones and employs more than 450 people across six manufacturing bases in the UK.

The company also has three sites in Loughborough, one in Coalville and one in Wadebridge, Cornwall.