A Derby-based aerospace company, which rebranded earlier this year following its $1.9bn merger with a US counterpart, posted a surge in turnover for its latest financial period.

Newly filled accounts for Pattonair Holdings show the company's turnover totalled 340.5m for the 12 months to 31 December 2019.

Its turnover was 244.5m in the nine months to 31 December 2018.

Its pre-tax profits totalled 11m for its latest period, compared with 45.9m in the prior nine months.

During the year the company acquired Mercurius Holdings and its subsidiary, Adams Aviation, for 17.2m.

Pattonair's $1.9bn merger with Wesco Aircraft Holdings, which was first announced on Friday 9 August 2019, completed in January 2020.

Pattonair, which employs about 600 people in Derby and a similar number in its operations throughout the rest of the world, works with the likes of Rolls-Royce and BAE Systems.

The company rebranded to Incora in March 2020 while it was confirmed that almost 200 jobs were to be lost as a result of the merger in June.

A statement signed off by the board said: "We anticipate the Covid-19 pandemic to have a material impact on our operations, our cash flows from operations and out financial condition, in fiscal year 2020."

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Aerospace giant posts surge in turnover | Insider Media - Insider Media