Leicestershire company reports rise in revenue and profits

A Leicestershire company which makes components for Rolls-Royce's XWB engine has reported a rise in revenue and profits for its latest financial year.

Preci-Spark, which has its headquarters in Syston, has posted a revenue of £33.9m for the year to 31 December 2017, up from £28.8m in 2016.

The company's pre-tax profits also rose from £210,854 to £385,669 during the same period.

A statement signed off by the board said: "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."

Earlier this year the business sought permission from Charnwood Borough Council to expand into an adjoining warehouse in Syston as its current factory on the site has reached full capacity but the application has since been withdrawn.

The company said at the time that it was facing a rise in demand from the Derby-headquartered aerospace giant and that it needs to expand to meet its contracts.

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