High-tech company P2i, which makes a liquid-repellent coating, said sales had trebled to £3.2m.

Its Aridion coating will be used on half the hearing aids manufactured next year and shoemakers Adidas, Ecco, K-Swiss, Nike and Timberland are adopting the Milton Park-based company's technology.

Other customers include the Ministry of Defence.

Chief executive Carl Francis said: “This has been a great year. We trebled revenues and doubled the size of our company to satisfy the growing demand for our unique nano-coating technology.

“We have a highly-scalable business based on proprietary and game-changing technology, developed by an outstanding team and backed by solid funding.

"We are confident in P2i’s future as the dominant global force in functional nano-coatings.”

The company declared an adjusted pre-tax loss of £2.9m, but said its £5.8m cash reserves, built up after raising £5.5m from investors in May, were sufficient to support its growth plans in 2011.