Domnick Hunter, the UK-based firm which provides filtration, separation and purification products for the brewing, beverage and dairy industries, among others, has reported 2002 results which it qualified as a "significant success".
The record figures came in a challenging year for manufacturing industries worldwide, the company said.
Turnover of £123.0 million was up by a modest 2.4 per cent but generated an 11.7 per cent increase in operating profit to £11.7 million and an 18.5 per cent increase in profit after tax to £7.1 million.
"The group's strategy of developing its core filtration, purification and separation technologies to produce high added value products, for which there is a worldwide demand across a broad spectrum of industries, has stood it in good stead during both buoyant and, more importantly, tough economic times, as witnessed by these record results," said chairman Brian Thompson.
"Organic growth remains fundamental to the development of the group. Nevertheless, we are prepared to consider acquisitions within our chosen areas of expertise if there is a compelling case which will lead to the enhancement of the Group's strategic position."
He concluded: "We continue to focus on organic growth through further developments in both the product range and expansion of our geographical coverage. I expect a robust performance in 2003 and am confident of future expansion."