THE Runcorn-based manufacturer of sat-nav devices, Performance Products, enjoyed a strong growth in sales in 2010.

The company, which sells its products under the brand Snooper, increased sales by £1.9m to £9.5m, although it was unable to translate that into higher profits, with pre-tax profits down nearly 40% to £260,000.

Of the 26% sales increase, 11% was generated by new products across the company’s sat-nav, GPS detector and outdoor leisure products, including a product which can establish the distance to the pin on 4,500 golf courses across Europe.

Performance Products said its sales in Europe “attract lower margins than the equivalent domestic sales”. During 2010, sales to Continental Europe represented 55% of the total, up 15 percentage points on a year earlier.

UK sales were down £600,000 to below £4m, while European sales grew £2.2m to £5.2m. There were also sales of £380,000 to the rest of the world.

At the year-end, its goods for resale were £1.3m higher than a year earlier, at £3.7m.

Accounts filed at Companies House showed a positive cash balance of more than £200,000 at the year- end, although the company noted the “uncertainty” created by economic conditions, particularly around customer demand and the exchange rate between sterling, US dollars and euros.

It said that its forecasts and projections show the company “will generate profits and cash in the next two years”.

Performance Products was founded in 1979 by Chris Ballard. His sons, Stephen and Jason, along with finance director Shaun Tolley, now run the company, which is ultimately owned by American firm Cobra Electronics.

ALEX TURNER