Coventry metal coatings specialist Norman Hay beat its 2005 financial targets by a "significant margin" and saw underlying profits hit a ten year-high.
The company, which has operations in the US, India, Hong Kong, Japan and China, said it was "particularly satisfying" that exports accounted for 42 per cent of turnover last year.
Profit for the 12 months to December 31 rose by 46 per cent to £1.5 million before exceptional items on turnover 20 per cent ahead at £21.2 million.
Earnings at the pretax level were static at £1 million but the final dividend is to be raised by 15 per cent to 1.5p a share.
The exceptionals included a charge for the restructuring of Hay's Plasticraft division which involved closing a factory at Cannock and consolidating the business at Coventry.
After three acquisitions totalling £874,000, Hay finished the year with bet borrowings of £771,000, up from £460,000 at the end of 2004.
"Our UK specialised surface coatings businesses have performed well and provided excellent cash flows from their operations," chairman Peter Hay said in the group's results statement yesterday.
The Ultraseal division, which has an operation at Wednesbury in the Black Country, also had another good year with record deliveries of impregnation plant and equipment to multi-national manufacturers and original equipment suppliers.
"The global service we provide in designing, manufacturing and installing these plants, combined with a complete chemical supply and ongoing process control package, is increasingly recognised around the world.
"The majority of Ultraseal's business is exported and our ability to bid and win in the world market culminated this year in a flagship installation in North America," Mr Hay said.
Looking ahead, he added: "Overall, early results are showing a satisfactory start to the year." ..SUPL: