Industrial and building products group Expamet, which this week reported 1997 pre-tax profits of £9.7m from sales of £110.9m, expects to make several acquisitions this year.
Profits were up on a like-for-like basis, as the £16.1m figure for 1996 included £8.9m net proceeds from disposals and restructuring.
Turnover last year took a £9.8m hit from currency effects, and sales in the industrial products sector dipped £4.1m to £75.6m.
Operating profit in the industrial sector was up 26% to £6.2m, boosted by the Olaer hydraulic accumulators businesses. Hartlepool’s Expanded Metal continued to boost margins.