New direction pays off for Laird with as results rise

Laird, the former shipbuilder that reinvented itself as a maker of electronic components used in tablets and smartphones such as Apple's iPhone, recorded a 31 per cent jump in profits to £53m last year as revenues rose 19 per cent to £491m.

The executive chairman Nigel Keen said growth this year was set to be bolstered by acquisitions as well as strong demand for its products, which include electromagnetic shielding and heat control devices.

The company also said it is still looking for a chief executive to replace Peter Hill, who stepped down in November due to ill health.