Sheet metal fabrication firm Hydram Engineering saw a near 43% rise in revenues in 2022 as demand for its cutting, coating and assembly services returned post-pandemic.
The Ferryhill-based firm, which operates a 135,000 sqft facility employing an average of 238 people at the beginning of 2022, posted accounts to the end of March 2022 which show profitability grew at the same time. Now in its 46th year, the firm said that despite three wage increases for staff during the year, recruitment challenges posed by low unemployment meant its ability to meet customer demand had been substantially impacted.
Operating profit at the firm grew more than 77% to £2.85m as Hydram described a strong return in demand from its existing customer base, which includes transport operators, defence companies, automotive and aerospace businesses. Hydram has worked with well known names such as Hitachi Rail, Komatsu and Mitsubishi.
