PARACHUTE material to inflatable dinghy manufacturers Wardle Storeys has seen pre-tax profits jump to £10.5 million.

The firm, which employs more than 350 at its plants in Blackburn and Earby, saw profits soar by more than 47 per cent in the year to September.

Chairman Clive Clague said significant investments made across the group would help ensure growth in the future.

"We believe that we now have the capability to deliver significant and sustained medium term growth in operating profit, earnings and dividends through prudent investment, improved margins and strategic acquisitions." The technical products division, which manufactures fabrics and trims for the car industry and includes the two East Lancashire sites, saw operating profits more than trebled to £5 million on sales of £64 million.

The division's products are now included in the new Fiat Bravo and Brava cars.

Turnover across the group rose by more than 16 per cent to £110 million and earnings per share were up by 44 per cent to 27.2p. Shareholders will receive a final dividend of 13p.

Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.