ALBION Automotive has narrowed losses during a year which the company said saw truck market sales return to pre-2014 levels.

Glasgow-based Albion, which manufactures axles for buses, trucks and cars, booked a pre-tax loss of nearly £2.5 million in 2015, accounts newly available at Companies House show.

The company, which is ultimately owned by Detroit’s American Axle & Manufacturing (AAM) Holdings, had lost £4.6m the year before when it cited the impact of changes in European regulations on diesel emissions for trucks and buses.

Albion narrowed losses in 2015 on the back of 22 per cent rise in sales to £37.2m.

“This was due [to] the truck market sales returning to pre-2014 levels, where sales were affected by the implementation of environmental upgrades with the Euro 6 introduction.

“During 2015 the passenger car and construction markets remained strong.”

Albion notes in the accounts that it continued to make progress in managing costs during the year. It said the introduction of lean manufacturing systems in 2013 has allowed it to “eliminate waste and reduce costs” while minimising the impact on quality.

The company employed an average of 164 staff last year, up from 155 in 2014, while wages and salaries were booked at £5.2m, up from £4.3m. The highest-paid director received emoluments of £186,000, according to the 2015 accounts, compared with £179,000 the year before.