Engineering firm Beru F1 Systems is set to expand into the aerospace sector after budget cuts in Formula 1 wiped £1.23m off sales.
Diss-based Beru, a division of US/German automotive supplier Borgwarner Beru Systems, provides advanced design and manufacturing services in motorsport, providing components to every F1 team across the globe.
But accounts for 2009 showed that turnover fell from about £6.5m in 2008 to £5.3m last year after new regulations by motorsport body FIA saw F1 teams forced to cut their budgets by 50pc.