Newton Aycliffe steel firm battles through slump

Family-run steel company Finley Structures which is based in Newton Aycliffe, has seen sales rise year-on-year by 17% to £13.6m

Andrew Workman and Chris Hodgson of Finley Structures in Newton Aycliffe, County Durham
Andrew Workman and Chris Hodgson of Finley Structures in Newton Aycliffe, County Durham

A construction sector slump failed to dent family-run steel company Finley Structures which has seen sales rise year-on-year by 17% to £13.6m.

The Newton Aycliffe based structural steel makers also reported a rise in pre-tax profits to £274,602 for the year to March 31 2013, up from £261,394 the previous 12 months, trading results the firm said it was “extremely satisfied” with after performing in a competitive market.

The firm also said sister company SCH Site Services had also increased revenues by a third, from £2m to £3m.

The directors’ report accompanying the accounts, filed at Companies House, said: “The company continues to trade well in a highly competitive market.

“The company will continue to offer a high level of product and service to a strong customer base and focus on improvement to be one of the best in the North of England.

“Despite difficulties in the construction sector Finley Structures Ltd has confidence in its performance to achieve the set of targets.

“Our continued belief and investment in the business will ensure we remain at the forefront of our market.”

The accounts show headcount swelled from 46 to 53 over the course of the 12 months at the company, which secured a number of significant contracts in the time period, including a project at Ercall Wood Technology College in Telford and a contract for Carillion Building at RAF Leeming in North Yorkshire.

The firm also won a £1.9m contract to make and erect 72m by 31m wind turbine drive train testing facilities at the New and Renewable Energy Centre (Narec) in Blyth, Northumberland, having been signed up by Shepherd Construction in April 2012.

The 13-year-old company also won the £750,000 contract to build the skeleton of the Northern Design Centre in Gateshead.

Over the course of the year managing director John Finley promoted his daughter Julie as Finley Structures joint-managing director, while son Gary was promoted to joint-MD of sister company, SCH Site Services.

After winning the Narec contract John Finley said: “The company’s strength and position in the market is thanks to significant investments over the last two to three years and the dedication of the team.”

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