Confident start to 2008 for safety product firm Sprue Aegis as pounds 1m profit announced.

AN INNOVATIVE safety product company has revealed it has made a net profit of more than pounds 1 million in the past financial year.

Coventry-based Sprue Aegis, the designer, manufacturer and distributor of the FireAngel range of innovative safety products, announced the profit in its results for the financial year ended December 31, 2007.

Revenues in 2007 more than doubled to pounds 7,263,057 from pounds 3,383,968 in 2006 while net profit for the year stood at pounds 1,001,965.

During the year, the company successfully launched its 600 series of battery-operated smoke alarms and 'Wi-Safe' range of wireless interconnect safety accessories.

It increased store presence in DIY and food retailers and made more inroads with the fire service and social housing markets.

Graham Whitworth, chairman and chief executive of Sprue Aegis, said: "Our strategy of broadening our product range and diversifying our distribution channels within the UK is producing positive results.

"FireAngel is gaining greater brand recognition and we have seen significant growth from our non-retail customers thanks to the successful introduction of derivative product line extensions.

"We are building a sustainable and profitable UK business and we have entered 2008 with confidence as we look to capitalise on our achievements to date, as well as expanding selectively into other related markets, both in the UK and Europe."

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STRATEGY... Sprue Aegis chairman Graham Whitworth.