Bridport casts off fears of Asia flu to deliver GBP 4.2m

AIRCRAFT interiors-to-medical sutures group Bridport shrugged off turmoil in Asia to see annual results surge ahead in its aerospace markets, writes Richard Phillips.

Chairman David Sebire is cautiously optimistic of more progress in the current year. Sebire said Brid-port was able to maintain sales in Asia as it supplied manufacturers - Boeing and Airbus - and airlines.

After the acquisition of Air Carriers Interiors in Seattle, Brid- port is now the main supplier to Boeing of cargo restraints - the webbing to stop cargo shifting about in the aircraft hold - and to Airbus, making it "the world number one in a very nichey market", said Sebire. Demand from airlines to differentiate through attractive cabin interiors was strong. The sutures business was steady. After the sale of its fishing-nets business in 1997, overall sales for the year to end-July fell to GBP 27.4 million from GBP 35 million. Pre-tax, Bridport turned around a GBP 2.44 million loss chiefly from the disposal, into a GBP 4.24 million profit. Earnings per share were 15.11p, against a loss of 17.08p before, and the company, under chief executive Geoffrey Woods, is paying a final dividend of 3p, making a total for the year of 5p, up from 4.55p last time.

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