Pictured above: (l-r) Nick Rutter, John Gahan, Alastair Chrystal, Daniel Gidney (Ricoh Arena), Peter Brigham, John Walsh and Graham Whitworth from Sprue Aegis

Europe's leading safety products supplier based in Coventry is celebrating record results after more than doubling its turnover during the last 12 months.

Sprue Aegis plc, who held its annual general meeting at the Ricoh Arena in Coventry, has seen its turnover increase from £14.4 million in 2009 to £29.9 million last year.

Profit has also risen by 53 per cent from £2.0 million in 2009 to £3.1 million in 2010 at the company which designs, manufactures and distributes smoke alarms and carbon monoxide detectors and other safety related products throughout Europe.

Sprue Aegis, which is located at the University of Warwick Science Park, employs 63 people in the UK and its workforce is expected to rise again during 2011.

Group Finance Director John Gahan said over the last four years turnover has increased from £3.6 million in 2006 to £29.9 million in 2010. 

"We are pleased to have achieved a record set of results for the group and with net cash of £4.5m in the bank, we are in a strong financial position," he said. 

"Last April we were appointed as the exclusive European distributor for the safety products supplied BRK Brands Europe Ltd, and we're now selling four brands - FireAngel, First Alert, BRK and Dicon - throughout Europe.  

"Our customer base has also increased significantly and as well as distributing to huge retailers like B&Q and Tesco, we supply over 90 per cent of the UK's Fire and Rescue Services with safety products which they fit in people's homes including specialist products for the hearing impaired."

Sprue Aegis remains well placed to take advantage of changes in safety legislation, Graham Whitworth, Chairman and Group CEO, commented: "The growth potential for the company remains significant, we will maintain our strategy to invest in our proprietary technology and continue to produce market leading innovative life saving  products."

Daniel Gidney, chief executive of the Ricoh Arena, said Sprue Aegis was a rapidly growing Coventry company. 

"We were delighted the Ricoh was chosen to host Sprue Aegis's annual general meeting at an exciting time in its history as it continues to develop markets in the UK and across Continental Europe," he said.

"They are continuing to invest in technology and create jobs in Coventry which is fantastic news in the current economic climate and it is great to have such a forward-thinking business like them in the city."