A WIRRAL-BASED railway transport equipment provider has seen a strong increase in its profits, despite the end of a significant contract for the firm.
Pre-tax profits at Faiveley Transport (Birkenhead) increased by 27%, to £2.65m, in the year to March, despite sales dropping 16%, down £5.5m to £29.3m.
This was attributed to the completion of a “significant” original equipment (OE) brakes contract a year earlier.
The firm is part of the £750m-turnover Faiveley Transport Group, a French group with operations in 22 countries around the world.
It supplies railway systems and services, offering products such as air conditioning, electro-mechanics, on-board electronics, platform doors and gates, braking systems, couplers and customer services.
In accounts just filed at Companies House, its directors said: “It was a challenging year in an extremely difficult external economic environment.
“The business was again successful in continuing to recover market share in our customer service segment.
