Figures show increased profits at Sheffield Forgemasters

Sheffield Forgemasters has reported increased profits with strengths in offshore, power generation and defence markets for 2011–12. Operating profit increased to £5.4m compared with £2.3m the previous year.

Despite difficult trading conditions, including acute international pricing pressures and the continuing global economic recession, the company’s turnover totalled £106.8m.

According to Sheffield Forgemasters, prospects for the year ending 30 June 2013 already show progress on last year.