SHIPBUILDER VT was named Company of the Year at the Hampshire Business Awards ceremony last night.

The Daily Echo backed awards are the annual search for Hampshire's best businesses and three companies from around the county took the honours.

The Bond Pearce Innovation Award was won by Isle of Wight based composites materials company Gurit UK for its track record of continual change.

Nick Page, partner at Bond Pearce, said: "Gurit has successfully developed its existing technology - traditionally used in wind turbines and race boats - to create a lighter material for use in the automotive sector.

This looks set to revolutionise the industry and it shows that innovation is alive and well in Hampshire.

" The Royal Bank of Scotland International Trade Award, which went to Winchesterbased IAC Ltd.

The company develops and produces noise control equipment and has successfully used international trade to turn the company around.

Mark Price, of RBS, said: "Export now accounts for more than half of IAC's sales and we were hugely impressed by how international trade has transformed the business.

IAC's role in maintaining Hampshire as a great location for international trade makes it a deserving winner.

" VT Group was the first winner to be announced when it was named KPMG Company of the Year for its "all-round business excellence" and effective diversification into the support services sector.

Phil Cotton, senior partner at KPMG's south coast office, said: "VT's ability to manage change really impressed the judging panel.

"Not only does it have a higher number of employees in Hampshire now, the changes were instrumental in the company announcing record results earlier this year."

See Tuesday's Daily Echo for full picture coverage of the awards ceremony