A Dundee firm that assembles transmission cables for use in space has recorded profits of more than £10 million for the year.
WL Gore and Associates, based at Dundee Technology Park, develops wires used for space exploration.
Newly filed accounts for W. L. Gore & Associates (UK) show the firm made a pre-tax profit of £10.6 million for the year to March 2022.
That is an increase from £7.1m the previous year.
WL Gore: Dundee firm sees demand return
The company has seen a strong rebound in the medical products division after easing of pandemic restrictions.
Meanwhile its performance solutions division’s revenue has remained stable.
Rodger Pheely, Gore UK Board member, said: “The results are in line with our expectations for the year with solid growth in profit.
“The easing of restrictions saw demand for our medical products return to pre-pandemic levels.”
WL Gore equipment was used in NASA’s Apollo 11 mission in 1969, while Gore is best known for its GORE-TEX technical fabric.
In 2019, the business, which also has premises in Livingston, chose Dundee for its Space Centre of Excellence.
‘Strong position for continued growth’
Earlier this year, it was voted one of the best workplaces in the UK for women.
Across the reporting period, the accounts show the average number of employees has fallen slightly, to 248 from 251 the year before.
There are 95 staff in production roles and 151 in management and administration positions.
The wage bill also dropped slightly, from £13.7m to £12.1m this year.
Mr Pheely praised the firm’s staff for their work.
He said: “We are in a strong position to see continued growth in the coming year thanks to the outstanding commitment of our associates.
“Their expertise and dedication ensure that we continue to innovate and deliver high quality solutions.”
The firm’s Dundee office, which added 50 staff in 2020, is run by Sheona Barlow.
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