Engineering firm improves turnover and returns to profit

A County Durham-based specialist engineering business marked 40 years of trading with a "much improved" year, returning to profit and increasing turnover by half.

The company manufactures metal components and structures for a broad range of industrial uses. It operates two facilities in County Durham, employing more than 150 staff.

Turnover for the year ending 31 May 2018 was £12.3m, an increase of 47 per cent on the previous year. The company recovered from a £24,000 loss in 2017, achieving a pre-tax profit of £683,000.

Dyer Engineering marked its 40th anniversary in August 2017, and grabbed a top three spot in Insider's Manufacturing Growth Network Turnover Table the following November.

Speaking at the time, managing director Graeme Parkins said the company's aim is to grow to a £20m turnover business. He said: "We’re planning the next stage of our development, our footprint is good and we have the potential to develop some of the land around us. But it’s not all about new growth, we need to continue to look after our customers. It’s no good getting to £20m if we’re not impressing our existing customers.

"We’re passionate about creating a business that is different to others. We want to be an exceptional place to work where our workforce is valued, they contribute and feel part of something special. I want Dyer Engineering to be a learning organisation and be held up as a benchmark."