County Durham-based Hydram Engineering (www.hydram.co.uk) saw its operating profit increase from £797,000 to £1.6 million during the financial year to 31 March 2017, and it recruited nine new people, taking its workforce to 226.

Founded in 1977, the company specialises in precision sheet and tubular metalwork, fabrication, powder coating and assembly.

Managing director David Greatorex said: “This increase in profit can mainly be attributed to the significant investments in new automated equipment during the year, supported by a well-trained and motivated workforce.

“The increase in sales was supported by growth from the existing portfolio of customers and from new customers coming on stream.

“We continue to monitor and control costs tightly, but we are facing price pressures on steel, due to the volatility and uncertainty in this industry.”

Despite these cost pressures, Hydram managed to grow its turnover by 16.5% during the financial year, from £12.8 million to £14.9 million.