Turnover slump for aerospace components maker

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Turnover at a Derby-headquartered aerospace components maker slumped by about 45 per cent during the first nine months of 2020 because of the Covid-19 pandemic, it has been revealed.

Gardner Aerospace Holdings added that its operating results "have decline significantly" and are negative for its latest financial year.

However, the company added that following a restructure it returned to EBITDA profitability in the fourth quarter of the year.

The update comes in newly filed documents with Companies House for its year to 31 December 2019.

The accounts reveal that Gardner Aerospace's turnover increased from £166.5m to £217.7m in the year while its pre-tax profits remained static at £8.1m.

A statement filed with the accounts said: "The

 link source - Insider Media

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