Edinburgh tech firm Reactec reports profit for 2017

Scottish technology firm Reactec has reported the business moved into the black in 2017.

The Edinburgh-based company, which provides monitors and devices to track and prevent hand arm vibration syndrome (HAVS), disclosed a pre-tax profit of £94,000 for 2017, compared with a loss of £369,000 in the previous year.

Its accounts for the 12 months to 31 December 2017, submitted to Companies House this week, showed a turnover of £3.6 million, up 35 per cent from 2016 (£2.6m).

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This growth was attributed to the 2016 launch of the company’s HAVwear system, a wrist-worn device that determines an individual’s exposure to vibration during every day use of power tools.

Chief executive Jacqui McLaughlin said: “Reaching profitability is a major milestone for Reactec, but what is more important is that it coincides with a watershed for HAVwear as a product.

“HAVS is a painful and potentially debilitating condition that is disappointingly prevalent, yet entirely preventable, and we will continue our push to rid industry of this awful condition.”

HAVwear is now used by a number of private and public organisation in the UK, including British Airways and Siemens.