FILTER manufacturer domnick hunter expects the first orders for its new nuclear biological chemical (NBC) protection systems to boost business in the coming year.
The company, which employs 700 people at its headquarters at Team Valley in Gateshead, has been developing the system for use in tanks and other armoured military vehicles.
Group chief executive Colin Billiet, said: "Although no orders have yet been received the group believes it has a unique patented technology capable of meeting the needs of the potentially massive military market. First orders are expected later this year."
He added: "Potential users of the new technology in this country include companies like Tyneside-based tank builder Vickers.
"Outside the UK, the US market is obviously massive for us, and one that we intend to build up in the coming year."
Mr Billiet was speaking as the company reported a 33.3 per cent rise in operating profits to £10.3m for the year to December 31, compared with £7.8m in 1999.
Turnover was up 23.5 per cent from £83.4m in 1999 to £103m. Shareholders will receive a dividend for the year of 8.65p per share.
Brian Thompson, chairman, said: "I am very pleased to report that 2000 was an excellent year for domnick hunter group. Record turnover and operating profit were achieved, major new supply agreements were secured and market positioning was strengthened.
"The strong performance in 2000 has continued into 2001."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article