Sales rise 9% at British Engines as demand for engineering solutions increases

Growing demand for British Engines’ products solutions has triggered a 9% boost in revenues amid tough trading conditions, accounts show.

The Newcastle engineering group, made up of eight subsidiaries spread across the region, has filed figures for 2023 showing an £11.9m rise in turnover to £141.6m, leading to operating profit of £5.7m, up from £4.4m.

The group said revenue growth was driven by an increase in demand for the group’s innovative engineering solutions, and was a result of developing opportunities into new markets as well as product development initiatives. The company said cost inflation was again a challenge throughout the year, particularly with regard to energy costs and wage inflation, which impacted inflation, and said it continues to face pressure on its product margins while UK-based manufacturing struggles to compete with lower-cost economies.

Read more: North East business life - award, community and charity events of the week

Go here for more technology news from BusinessLive

During the year the firm invested £8.9m in new equipment, and the net assets of the gro