The employee-owned company, which has operated from its base in Tayport for more than 160 years, said the results reflected growth in international markets, targeted investment and the ongoing commitment of its employee shareholders. Cash balances rose from £2.72m to £3.05m, while net assets increased from £7.08m to £8.82m.

Founded in 1864 as a linen works, the business has evolved into a specialist in advanced technical textiles and high-performance materials, with products used across industries including agriculture and automotive. International markets remain central to its operations, with 94% of sales exported, though the company also reported a 33.6% rise in UK revenues.

Managing Director M Quadrelli said the results demonstrated the company’s resilience amid continued market uncertainty, inflationary pressures and evolving customer demand.

Capital expenditure of £0.78m was invested during the year to support operational efficiency, product development and future growth, including significant investment in the company’s growing Pipe Rehabilitation value stream.

At the year end, 75.46% of the company was held by the Employee Benefit Trust, with the remainder held by employees through the Share Incentive Plan.