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Coleraine-based medical supply firm Armstrong Medical more than doubles pre-tax profits

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Armstrong Medical generates most of its profit from international sales, which accounted for 41% of turnover last year

Armstrong Medical generates most of its profit from international sales, which accounted for 41% of turnover last year

Armstrong Medical generates most of its profit from international sales, which accounted for 41% of turnover last year

A north coast medical supply firm has posted a "very satisfactory rise" in pre-tax profits, which have more than doubled to £2.26m.

Armstrong Medical, based in Coleraine, also revealed a rise in turnover of 20% to £14.04m.

Profits for the year to May 31 2019 rose to £1.927m, according to its latest accounts, while staff numbers were steady at 130.

The business, which is a specialist manufacturer of respiratory treatments for purposes including neonatal and critical care, said the hike in pre-tax profits was due to a management restructure and product development costs in 2018.

It said its focus this year will be to build on its exporting activity, which already sees it deliver to more than 60 countries.

Armstrong Medical generates most of its profit from international sales, which accounted for 41% of turnover last year. The UK is its smallest market, accounting for 24% of turnover, while the EU occupies 34% of sales.

"The strive to develop strategic partnership with international healthcare corporations, together with clinical engagement with key opinion leaders resulting in enhanced product offerings, contribute towards Armstrong Medical's ambition for growth in 2019/20 and future years," said the company in a statement.

The business, founded by John Armstrong in 1984, announced an £8m investment earlier this year to ramp up its exports.

The money will be pumped into new machinery and a new warehouse.

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