W.L Gore & Associates is the Scottish arm of the company behind waterproof fabric Goretex.

The firm’s profits for the year after taxation amounted to £19.3m, a drastic rise from the £7.4m in 2018.

W.L Gore & Associates’ revenue amounted to a total of £61m, highlighting a 13% year-on-year increase, with the UK contributing around £42m, EU countries £10m and the rest of the world £9m.

The firm’s results also reveal that its fabrics division in the UK has remained stable whilst the Performance Solutions Division which designs and manufactures products for the electrical and industrial sectors, along with Medical Product Division, have seen revenue growth which is anticipated to steadily continue in the coming years.

Rodger Pheely, Gore UK board member, said: “Our products continue to provide significant added value to our customers and our continued focus on ensuring great customer experiences across our global operations will continue to deliver strong results for our businesses.”

The company also highlighted that its directors have assessed the risks associated with Brexit. It said: “Currently, the directors remain of the opinion that the global mix of future shipments will mitigate any potential negative consequences of Brexit on the trading activities of the company.”