Paralloy Ltd is a global manufacturer of stainless steel and nickel alloys, and this year landed a King’s Award for International Trade.
In the year ending 31 March 2024, Paralloy turned over £93.5m – up from £75.2m in the prior year.
A pre-tax profit of £4.3m was recorded compared to a loss of £2.3m.
Paralloy called the year a “positive” one, despite “ongoing energy, inflation and metal volatility”.
During the year, the manufacturer reached significant milestones including record order intake, order wins and revenue.
It also expanded its new Teesside Advanced Manufacturing Park factory in Middlesbrough for the third time and grew its headcount to more than 500 people.
