Growing global demand for its products triggered a rise in revenues at major Northumberland employer Dräger Safety.
Draeger Safety º£½ÇÊÓƵ Ltd, which trades as Dräger Safety, has manufactured safety and medical technology solutions from its base in Blyth for more than 60 years. It has now published accounts for 2024, showing turnover increased 4% to £120.3m, while operating profit fell 4%, from £10.65m to £10.25m.
The overall profit for the year was £9.4m, up 24% from £7.6m, and an interim dividend of £4.4m was paid out. The firm’s workforce also grew during the year, from an average of 554 to 586. In the accounts, the firm’s directors noted its diverse product range and customer base, while also highlighting a constrained oil and gas sector.
The report says: “Demand for compressed air and breathing equipment (CABE) products manufactured by the company was strong across the global market. Sales of other product ranges in the domestic market were slightly lower, in particular as a result of the short-term impact on investment plans following the º£½ÇÊÓƵ Government’s unexpected increase in employer payroll tax.
“Despite the reversal of asset impairment in the prior year, which provided a significant one-time reduction in cost, overall profitability for the year was nevertheless maintained close to the prior-year level. The figure for employee turnover reflects normal fluctuations in the company’s business.
“The company continues to maintain the Draeger brand’s well-established 125+ year history and reputation for quality and technical excellence while developing innovative solutions focused on customer needs. The company continued to benefit from its diverse product portfolio and customer base.
“CABE products continue to be strong especially in the fire and rescue service market globally. The oil and gas sector has seen continued constrained activity as a result of volatility in the oil price; but increased investment in decommissioning and in replacement ‘clean’ energy production has begun to influence the market.
“The company believes the investment in training gives a competitive edge as without a fully educated and trained workforce we would not be able to maintain our position as a market and technology leader.
“Draeger has invested in onsite training and employees can access courses via a web-based training catalogue. The training covers all needs of all staff from basic computer skills to strategic management.
During the year the firm announced plans to build a new North East facility as part of a multimillion-pound expansion plan.
The owner of the safety and medical technology specialist is in talks to acquire land for a new base close to its existing Northumberland plant, which marked 60 years of business in 2023.
