Burnley aircraft firm sees profits soar

Burnley based aircraft firm Safran Nacelles has seen profits rise from £16.4m to £23.3m in latest figures.

The business is a world leader in aerospace and has been in Burnley for more than 70 years and develops and manufacturers nacelle systems for civil aircraft.

It plays a key role with the wider Safran Nacelles group as cost-competitive site.

According the full accounts for the period ending December 2024, turnover increased by 15.2 per cent to £185.3m.

In the report with the accounts, it said that a 'significant portion' of the turnover increase 'is attributable to an increase in the UK cost of sales due to supply chain disruption and inflationary pressures.'

"Additionally, in 2024, the company expanded its capabilities by selling sheet metal parts to other groups entities as part of its sheet metal growth strategy."

Looking ahead the company is making a transition 'towards becoming a sheet metal centre of excellence.'

In the report company bosses said: "On-site production hours have shifted, with almost 38 per cent now dedicated to sheet metal, 32 per cent to assembly, and 30 per cent to composites within the Safran Nacelles Group."

As part of the company's commitment to reduce its C02 footprint and improve its cost competitiveness, three key production lines were relocated from one leased building to another.

In the report it says the transition has supported the company's CO2 target cutting 370 tonnes of carbon per year and 25 per cent of its carbon footprint.

Lancashire Business View reported about how Burnley continues to show clout when it comes to manufacturing and engineering with 16 per cent of the borough's jobs in those sectors.

The North West’s aerospace cluster is the largest in Europe, contributing £7bn to the UK economy, and Burnley being home to important players including Safran Nacelles, Velocity Composites and Paradigm Precision.

The latest employment and sector figures are in a new Invest in Burnley report produced by the borough’s place brand, Burnley.co.uk.