Directors at Northumberland aircraft de-icer business Kilfrost have hailed a good trading year, despite an average winter impacting turnover and profits.
The Haltwhistle firm has been involved in safety critical advances to get aircraft airborne safely in icy conditions for more than 90 years, having made de-icing fluid for the aircraft, ground and rail sectors around the world since 1933. Kilfrost is best known for its work in aviation, but it has also been involved in attempts to de-ice the football pitch at Newcastle United, working in the rail industry, on Arctic convoys to keep ships safe, and supplying products for Antarctic surveys.
It notably invented the first ever glycol based aircraft de-icing and anti-icing fluids that remain the basis of today’s products globally, and has been making strides into geothermal activities, including refrigerants for the drinks industry as well as a low-viscosity products.
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Accounts for the manufacturer covering the year to March 2024 show turnover fell from £25.6m to £15.4m, while operating profit dropped from £3.4m to £2.8m. Pre-tax profits fell from £3.3m to £2.8m and total income came in at £2.2m, down from £3.2m.
The balance sheet showed an increase in equity, from £7.4m to £8.6m. A breakdown in turnover showed the 海角视频 brought in most sales – £11.2m, a drop on the previous year’s £19.2m – while the rest of Europe accrued £3.6m and the rest of the world accounted for £631,000.
Employee numbers remained steady at 35, one up from the 34 employed in 2023. Dividends of £1.04m were also paid in the year.
A report within the accounts by director Gary Lydiate highlighted how the group operates in a global market and services customers either directly or through licence agreements in more than 50 countries. The group has a wide range of customers with no individual customer accounting for a significant proportion of the entire business.
In the report Mr Lydiate said: “Kilfrost has entered its 92nd year as a chemical company. Its legacy in Aircraft De-icing Fluids (ADF) is the foundation which all new products are based on. As such it continues to lead the way in product development. Its Speciality Fluids (SFD) continues to make inroads into the market.
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“The past 12 months were noted for an average winter. This meant lower, than average, use of ADF. At the same time the cost of our major raw material (MPG) remained constant. However, due our contractual pricing mechanisms we remained profitable. In SFD we continued to make further inroads into Scandinavia which is becoming a core market. For the USA we continue to move ahead but further work needs to be done on sales and marketing.
“The market for our ADF products is highly seasonal and significantly variable, depending on weather conditions. We aim to mitigate this risk going forward through furthering the development and growth in our Speciality Fluids Division.
He added: “In summary Kilfrost had a good trading year and is in a strong position for the next phase of growth.”