Ejector seat family takes home £32m
THE family behind one of the world’s leading ejector seat makers shared dividends of £32m last year.
Martin-Baker, based in Uxbridge, west London, makes seats for fighter jets including the F-35 and the Eurofighter Typhoon, both of which are being built with BAE.
Founded by Sir James Martin, it is now run by his sons, 75-year-old twins John and James Martin.
The firm’s dividend for the year ending March 31 was £8m less than the year before, with profits falling from £49m to £39m.
Bosses conceded that their revenue forecasts for the year had been optimistic due to shipping problems. Revenue fell from £222m to £216m.
The Martin family was number 176 on the Sunday Times Rich List this year, with an estimated wealth of £730m.