MIRA – the advanced engineering, research and test consultancy near Nuneaton – has announced a record year of growth, with the company reaching an annual turnover of £45.7m.
The newly-released 2013 financial results, which also show a 46 per cent increase in turnover at MIRA Technology Park, reflect the businesses continued success in the international market, as well as significant progress with the site’s Technology Park offer.
The records also show surplus at MIRA has reached a record £6m, due to a combination of underlying operating efficiency and one-off tax credits.
Despite a challenging economic environment in recent years, the UK automotive industry grew in 2013 with forecasts of continued growth until at least 2017. Having set an ambitious growth strategy in 2010 – which included growing its core engineering and testing business through diversification, expanding overseas operations and developing the MIRA Technology Park – MIRA Ltd has grown year-on-year.
During 2013, MIRA’s international order intake exceeded 22 per cent for the first time in the company’s history, which was largely buoyed by the increasing success of MIRA Ltd’s engineering operations in China, Korea and Brazil. MIRA’s overseas footprint remains a key focus in the coming years, with target markets of Japan, Turkey and Germany.