Revenues soar at safety products maker

Revenues have surged to more than £170m at a maker of safety equipment, whose products are used by firefighters and miners, while profits also climbed.

For the year ended 31 December 2021, Draeger Safety UK reported revenue of £176.3m, up from £130.1m in the prior period.

Pre-tax profit also jumped to £16.4m from £11.5m.

A report accompanying the results said that, during the period, global and UK trading conditions continued to be “impacted significantly” by the Covid-19 pandemic.

While demand for PPE increased, the need for other product areas was “sharply reduced” as a result of lower economic activity.

As a result of this, the business invested heavily in additional production capacity to support the provision of PPE to key workers in the UK and, specifically, the NHS.

It added that demand for compressed air and breathing equipment products continued to be strong, especially in the fire and rescue service market globally, while the oil and gas sector has seen continued low activity.

Looking ahead, Draeger said that its overriding objective is to achieve “attractive and sustainable rates of growth and returns through a combination of organic growth and acquisitions”.

Draeger Safety UK is headquartered in Blyth, with offices in Aberdeen, Hemel Hempstead and Dublin.

It is part of Germany-headquartered multinational Dräger which has more than 15,000 employees worldwide.