THE engineering group which last year bought out Colne-based Cleveland-Guest today announced a profits leap on the back of the booming aerospace market.
L Gardner Group reported pre-tax profits up by 62 per cent to £4.1 million in the six months to March. Group turnover increased by 56 per cent to £30.4 million in the first half of the financial year compared with the same period last year.
Last August the firm bought Cleveland-Guest, which won the Lancashire Evening Telegraph Company of the Year business award in 1997.
After escaping closure, the company has been bought by engineering group L Gardner in a £2.4 million deal.
Cleveland-Guest, which employs more than 135 people, supplies precision machined components to major aerospace firms. It will now become part of a new aerospace division of Gardner. The firm recently won a share of a £12 million contract for work on the Eurofighter Typhoon.
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