High Modulus reports sales revenue was up 29% for the year ending 31 March 2009 compared with the previous 12 month period, exceeding budget.

Growth was seen across all four of the company's divisions: Structural Engineering; Materials Supply; B3 SmartPac; and Technical Services.

During the year the company also achieved its strategic objective of establishing operations in Australia and Asia.

Due to the current economic climate, High Modulus notes that it has put in place conservative sales targets for the new financial year and will continue to focus its efforts on operational efficiencies and broadening its customer base.

High Modulus is a supplier of composite materials, technology and structural engineering solutions to projects around the world in the marine and other sectors. The company's head office is in New Zealand.