Bolton Aerospace Ltd, which has been manufacturing wrought copper alloys in Ipswich for nearly 100 years (
www.boltonmetals.com), has seen falling metal prices affect its revenues.
The company reported that its turnover fell to £21.6 million for the year ended 31 December (from £23.1 million in 2013), while its operating profits fell from £1.94 million to £1.56 million.
A statement issued by managing director Myles Andrews said: “Turnover has reduced as a result of falling metal prices last year. This was a trend throughout 2014, resulting in lower sales values despite an increase in underlying volumes.
However, due to the company’s metal-buying policies, we were able to source metal against sales orders, and this helped to maintain margins.”
Mr Andrews added that the company continues to benefit from a strong order book, and that the directors “look forward to the future with confidence”.
The company can trace its history back to the late 1800s.