The company attributed the main part of the rise on the first-time full consolidation of the British Nenplas Group acquired at the end of 2016 and the Portuguese Probos Group consolidated from July 2017.

Earnings before financial result and income tax (EBIT) at €44.7m were 9% above the year-earlier value of €40.9m in spite of increases in the cost of raw materials that were in some cases very considerable.

“In 2017, Surteco achieved its year-end targets on the back of significantly increased sales owing to acquisitions and a gratifying increase in earnings,”said Dr Herbert Müller, Chairman of the Board of Management of Surteco SE.