South Yorkshire manufacturer celebrates over £22m of sales following restructure

South Yorkshire manufacturer P&B Metal Components is back in the black recording a £606k profit with sales growing to £22.75m for the last financial year following two years of “significant” losses.

The Sheffield headquartered company, with a subsidiary manufacturing facility in Malaysia, annually makes more than 500 million precision engineered metal components for the avionics, automotive and defence industries, as well as for domestic appliance manufacture, industrial control and automation segments.

A plan for the turnaround included consolidating the company’s two UK sites into the Sheffield site, establishing a new business structure, rebuilding the board of directors and the senior management team, introducing a reinvigorated HR programme, an extensive recruitment campaign, exiting from loss-making contracts and refreshed branding.

P&B now boasts a strong order book with further plans to increase its sales capacity to satisfy increased demand from its key customers in North America, Europe, Middle East and Asia.

Managing director Brendan Kendrick commented: “We consolidated Kent and Yorkshire operations in 2020, with the site in Sheffield now being the new HQ and only UK site, accompanied by one Asia based site in Malaysia.

“The new business structure in Sheffield features a revised board including a chairman, managing director, technical director, finance director, operations director, sales director and June Bushell, joint founder of P&B who is still active in the business today.

“After posting two years of losses we now have a £22.75m group turnover and we made a profit of just over £600k for 2021-22. Additionally, our site in Malaysia delivered a profit this year for the first time since being established in 2014.

“On the customer service side, we have established a new customer service function to deliver world class service for customers.

“Operations management-wise, we have reinvigorated our people strategy including wage increases, improved retention initiatives, skilled workforce recruitment and reinvigorated our apprentice program. We have our own in-house product and tooling design team for early customer engagement.”

As a contact assembly manufacturer, P&B supplies to a global market of over 200 customers spread across 30 different countries. It supplies multinational OEMs such as Siemens, Honeywell and Worksop-based Eaton with critical components.

By Matthew Neville – Correspondent, Bdaily

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