SALES and profits advanced at Hampshire manufacturer Elstead Lighting in 2015–16 with revenue hitting eight figures for the first time.

The Alton company more than doubled profits to £1.9 million (2015: £717,809) on sales up 23 percent to £10.1 million in the year to end July 2016.

Privately-owned Elstead, which also has its own subsidiary in Poland, has trebled sales since 2011–12 (£3.3 million). Of the total in 2015–16, U.K sales were up 38 percent to £8.4 million.

International revenues were down 19 percent to £1.7 million though the company cited export as a significant development opportunity, with the business' products now available in 45 countries around the world.

Year-end cash* totalled £448,173 (2015: £585,300) with the business having built inventory levels to £4.2 million (2015: £2.7 mill.) at the July 31 balance sheet dateline.

* net of outstanding overdrafts: 2016: £0 (2015: £474,393; all figures from consolidated group accounts

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