Manufacturing, logistics and consulting conglomerate the Unipart Group recorded group operating profit of £27.2m in the year to December 31, 2014, up 3.8 per cent on the previous year.

The company, which is based in Garsington Road, Oxford, said in a statement that its pre-tax profit was £16.9m in 2014. , but did not disclose comparisons with 2013.

Unipart reported group turnover, including joint ventures and associates, of £786.8m in 2014, representing a 22 per cent drop year-on-year. Chairman and chief executive John Neill said the drop in reported turnover was due to a change in accounting methods relating to “a major client”.