THE firm behind the International Fire Training Centre (IFTC) at Durham Tees Valley airport says it remains committed to the region, despite seeing annual profits fall.

The Serco group saw annual profits drop 62 per cent following its involvement in a Government criminal tagging contract, which last year saw it agree to repay £68.5m for over-charging on tagging contracts and a further £2m of past profits from a prisoner escorting agreement.

But Gary Watson, IFTC business operations manager, said Serco remains committed to the IFTC, which has a healthy and growing order book from clients in the UK and overseas.

He said: “In the past three months alone, the company has invested more than £1m into the business, and we continue to actively engage with Peel Holdings, the owners of Durham Tees Valley Airport, about our long-term commitment to the site. Both organisations share real confidence about the future.”

Serco’s profits fell to £106.6m, reflecting £90.5m of one-off charges principally relating to the tagging settlement.

Its order book stood at £17.1bn at the end of last year, compared with £19.1bn a year earlier, with operating profits down 2.3 per cent to £285.4m.