Sprue Aegis plc (AIM: SPRP) – minor hiccups have not impacted a fantastic year of trading
Sprue is one of Europe’s largest suppliers of innovative smoke and carbon monoxide alarms and other safety related products and accessories. The Groups first product, branded the Fire Angel was a smoke alarm that fitted into a standard ceiling mounted light fitting. Initially this was stocked in B&Q and Tesco, and as the Group has expanded and product range grown, Fire Angel has become the brand of choice for many retailers and the UK Fire and Rescue Services.
Sprue added to their range of safety products with the development of a carbon monoxide (CO) detector which provided further revenue streams. Today, the Group sell products under many brands including FireAngel, AngelEye, SONA, FireAngel Pro and Pace Sensors. In April 2014, Sprue listed on AIM and raised £8m through the placing of shares. Today they announced their final results for the year ended 31st December 2014. Sprue reported a record operating profit of £9.6m (2013: 5.1m) on revenues of £65.6m (2013: £48.4m). The balance sheet remains strong with net cash of £15.9m (2013: £5.2m) and no debt. While the…