ENNISKILLEN-based tech company Elite Electronic Systems, which in 2009 the firm secured a contract to provide power supply components to the Large Hadron Collider in Switzerland, more than doubled its year-on-year profits to £4.5 million in 2016.
The Fermanagh firm, which manufactures circuit boards used in medical, audio and industrial equipment, also increased its turnover by 16 per cent - from £17.8m in 2015 to £20.6m last year.
At the beginning of the year, Elite Electronic Systems bolstered its portfolio through the acquisition of a 17 per cent share in Dublin-based electronics firm Anveck Ltd.
At year-end March 31, the company employed 183 staff, mainly in the production sector, supplemented by administrative and managerial workers – a slight increase from the previous year, when this figure sat at 180.
Total staff costs, including pensions and national insurance contributions, came to just over £3.5m.
The company has customers across the globe, including in America, Brazil, and France, to name but a few.
Elite Electronic Systems also holds £13.7m in assets, mainly comprised of stocks, cash and debt. In 2015 this figure totalled £11m.
The strong trading year was reflected in an interim dividend of £1.8m being paid to the company’s shareholders. By year end 31 March 2016, shareholders funds sat at £13.7m.
Elite Electronic Systems have been trading for nearly a quarter of a century and is under control of Enniskillen’s Balfour family.
In 2007 the company established a base in South Carolina, where it employs around 70 staff and counts construction company Caterpillar as one of its main clients.
