Smethwick firm sees profits soar
Hadley Industries, a steel manufacturer based on Downing Street in Smethwick, has seen pre-tax profits rise by over 90 per cent.
The company, which featured as a #MadeInSandwell Monday star in 2018, is a world leader in advanced cold rolled steel technology with over 800 employees worldwide. It was founded in 1964 and now has bases in mainland Europe, Asia and the Middle East. Hadley Group chairman Stewart Towe won the lifetime achievement award at the Nachural Summer Business Awards in 2019.
Accounts filed for the year to April 2021 show that, despite a fall in turnover from £158.6m to £140.6m, profits increased from £2.9m to £5.6m.
An accompanying statement from the board said: “Whilst market conditions continue to be challenging, especially around steel supply, we are pleased to report such a strong trading performance.”
Hadley plan to move forward through research and development, creating new products and expanding into new markets. Think Sandwell congratulates Hadley Industries on its success and wishes it all the best for the future.