TURNOVER at Bamber Bridge-based gas heating giant Baxi soared to £118.6million for the year prior to March 1999 - an increase of 15 per cent.

Figures released in the company's annual report also show an increase in group operating profit up 11 per cent at £10.6million for the same period.

While total profit sharing was up slightly to just £2.3million for the year ending March 1999, compared to last year's total of £2.2million.

In the report, group chairman David Erdal praised staff and company bosses for the firm's "significant progress" during the past year and accounted much of the group's success to the "partnership culture" of the firm's employee ownership status.

As the fifth largest gas manufacturer in Europe, Baxi, based in Sceptre, Bamber Bridge, employs more than 1,800 workers in four countries, including 891 across the UK.

It has always supported various activities, most notably through its stewardship of Preston North End. Last year the group also established a UK Charity Committee to administer donations to local charities.

Reflecting on the firm's success, Baxi chief executive Bryan Gray, also chairman of Preston North End, details various key factors to success including the launch of the Bahama combination boiler in the UK market, to reflect increased demand in traditional cast iron wall mounted boilers.

Also the acquisition of the trade and assets of Ocean Idroclima SpA, to make Baxi SpA, in line with the company's strategic plan to expand into Europe.

He adds: "The group has produced another strong trading performance this year and has taken significant steps in the achievement of the strategy to focus on our heating business and expand our presence in Europe.

"In the forthcoming year a concerted effort will be made to consolidate heating businesses and to promote the Baxi brand across Europe."

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