A Warrington-headquartered nuclear industry specialist has posted a rise in revenue on the back of a successful year and is now looking to work on the international stage “to a much greater extent”.
National Nuclear Laboratory (NNL) helps reduce the cost of clean-up and decommissioning, maintaining critical skills and attracting talent to the industry.
It provides independent advice to the UK government and works with other national laboratories around the world, advising on a range of research and technology to support the nuclear fuel cycle.
For the year to 31 March 2018, NNL reported revenue of £102.8m compared to £101.8m the prior period. The company noted that while this was relatively modest, the increase “represents significant success in a market which has seen the core decommissioning business decline”.
Gross profits were up from £33.3m to £35.2m, while pre-tax profits were down from £9.15m to £415,000. On this, the NNL said: “While profit from operations before exceptional items has decreased from 2016/17 levels, this is in line with our plans as we bear the cost of investment in our people and capabilities, with the benefits of that investment expected to accrue in future years.”
Reflecting on the year, NNL added it had been a success, albeit one of challenges and opportunities.