Hallco 1812 shows its steel as profits rise

FAMILY owned steel group Hallco 1812 showed its mettle with double-digit hikes in sales and profits in the year to the end of May.

The Poynton, Stockport-based group which has 200 staff and traces its roots back to 1912 when it was established in Liverpool by metal merchant John Hall, is a specialist steel stockholder and processor, and supplies engineering and construction companies.

In the year to the end of May the group, which trades as Hall & Pickles and also owns Kidderminster steel sheet supplier John Tainton, grew sales 20% to £81.8m and profits by a 35% to £2.7m.

Chaired by Richard Hall and run by his son Matthew since 2001, Hall & Pickles has regional depots in Glasgow, Rotherham, Gateshead, Wolverhampton and Crosskeys, Gwent.

In their business review the directors said selling prices had moved ‘broadly in line with cost prices’, while demand and activity levels fluctuated in line with market conditions.

The group was cash positive throughout the year and is in a strong financial position, it said.

Hallco 1812 said it recognised the impact of worldwide economic events on the UK’s economy as a principal risk. But it said strong customer relationships, a reputation for reliability and continued investment in plant and machinery and systems were helping it to be m,ore efficient and maximise market opportunities.

“With regard to future prospects, the company is soundly based and continues to be in a position to react to any changes in trading conditions.”