Northern Ireland firm Camlin reports €4.7m profit for 2020

Energy and transport specialist Camlin earned £4.1 million (€4.7 million) profits last year, the company said on Tuesday.

The Co Antrim-based firm develops systems that aid energy and rail companies in monitoring and managing their networks.

The Lisburn company reported on Tuesday that sales last year reached £40 million on the back of 20 per cent growth. Group-wide profits were £4.1 million.

Camlin has businesses across Europe, Asia and the Americas, with offices in 21 cities in 17 countries.

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Peter Cunningham, chief executive, said structural and strategic changes over the last 18 months aided boosted growth in orders in 2020.

Its energy fault and load management business, Kelvatek, continued to generate strong profit growth. The rail business grew internationally.

"The Camlin Group will be investing over £50 million in research and development over the next four years to support and facilitate the digitisation and decarbonisation of the electricity and rail industries," Mr Cunningham said.

He added that more than £10 million of this would be spent energy projects in the UK.