Sprue Aegis reports record revenues of £65.6m

Despite revenues “exceeding market expectations”, Nick Rutter’s smoke alarm company is anticipating fall in pre-tax profits due to impact of Sterling

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  • Megan Dunsby

Sprue Aegis PLC, the home safety manufacturer founded by 2003 Young Gun Nick Rutter, has revealed record figures for 2014 with a 36% revenue increase of £65.6m and a major hike in its operating profit; up 88% to £9.6m.

The company has also highlighted a range of other milestones it has achieved over the last year which includes moving from the ICAP Securites & Derviatives Exchange (ISDX) to AIM, securing exclusive European distribution rights over BRK Brands’ products until March 2018, and above-target performance in the business’ French market.

While Sprue Aegis’ final results for the year end have reached record levels, chairman Graham Whitworth has warned that the company expects pre-tax profits to come in “marginally below market expectations” on the back of its gross margins being impacted by the Sterling’s continued strength against the Euro. Its share price is currently down 15%.

Launched in 1998 by Rutter and his university peer Sam Tate, Sprue Aegis specialises in a range of home safety products including smoke detectors and carbon monoxide detectors across brands such as FireAngel, SONA, Pace Sensors and AngelEye.

The business has come a long way since it was awarded Young Gun status 12 years ago – at the time it was expecting turnover of £6m – with 100x revenue growth since featuring.

Megan Dunsby

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