A Norfolk firm which makes electric double decker buses has revealed it sold more than £16m worth of products in the past year - an increase of almost 40pc on 2022.

Equipmake, a Norfolk-based manufacturer of electric powertrain components which can be used in buses, cars, and even aircraft, had its most profitable year ever, raising £16.2m of gross proceeds since May 2022.

The former-Williams F1 team supplier - which has its headquarters in Snetterton - was also listed on the Aquis Stock Exchange.

Highlights over the past 12 months included signing a licensing agreement with one of India's leading automotive technology companies, Sonar Comstar, to produce components for cars and buses across South Asia, and securing a lease on a 50,000 sq. ft unit in Scottow to help facilitate growing demand.

Ian Foley, CEO of Equipmake said: “Investments in areas including supply chain management, product development and improved facilities are targeted to improve margins, in the current and subsequent financial years.

"Whilst there are signs that recent, well documented, inflationary pressures are abating, the company remains alive to further potential opportunities and impacts going forward.”