Manufacturing company Camlin Group, which is based in Lisburn, has announced turnover of £77.4m for 2023.
Camlin Group, which specialises in engineering and tech solutions for railways and the energy sector, said the figure was up nearly £20m on the year before.
It said the improvement marked a continued shift towards profitable growth, with an operating loss of £0.1m cut from £2m in 2022.
Camlin Group, which is led by chief executive Peter Cunningham, said the improved turnover came despite political and economic uncertainty affecting the UK and global critical infrastructure sector.
Turnover in 2022 had increased by 50% on the year before.
Camlin Group said 2023’s growth was supported by revenues from UK energy business Kelvatek rising from £29.9m to £51.4m, driven by a new electricity network monitor and a new monitoring and fault management system.
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The company said it had built up a backlog of more than £50m for the present financial year so that it was expecting revenues of £90m, with significant profitability growth and a growing backlog forecast.
It said future numbers were underpinned by the launch of Sapient, a new digital solution giving energy operators insights into network health and capacity.
Mr Cunningham said: “After several years in which the infrastructure and energy sector have had to contend with considerable global disruption from high inflation, international supply chain issues, political uncertainty, and the aftermath of the Covid-19 pandemic, today’s figures demonstrate the resilience both of Camlin Group and the industries in which we operate.
“We are confident now that this drive towards sustainable growth will lead us into long-term profitability.
“Our launch of Sapient to the North American market earlier this year and into the European market in August will be the bedrock in the development of our relationships with our customers there and will be the foundation of multi-year strategic deals with them.
“Furthermore, as the UK recommits to the clean energy transition, Camlin are able to support the critical upgrades to our grid infrastructure required to expand our renewables capacity, alongside our work optimising other critical infrastructure such as rail.”
Camlin Group develops solutions to make energy and transport infrastructures run more efficiently.
The company includes research, engineering, manufacturing and customer support facilities in 21 centres across 17 countries. It employs around 600 people with its headquarters in Lisburn.