How much does Steel Processing (Midlands) Limited make?

Steel Processing (Midlands) Limited reported revenue of £71m and £2.4m profit in the year to 31 May 2024, according to its accounts filed at Companies House.

How many employees does Steel Processing (Midlands) Limited have?

Steel Processing (Midlands) Limited reported an average of 51 employees in the year to 31 May 2024.

Is Steel Processing (Midlands) Limited profitable?

Yes — Steel Processing (Midlands) Limited reported a profit of £2.4m in the year to 31 May 2024.

Company No. 02712025 · Incorporated 6 May 1992

Steel Processing (Midlands) Limited

Registered name: STEEL PROCESSING (MIDLANDS) LIMITED

Part of SPM Group Midlands Limited group

Steel Processing (Midlands) Limited made £71m revenue and £2.4m profit in the year to 31 May 2024. read from filing text

Steel Processing (Midlands) Limited’s revenue fell 16% to £71m in the year to 31 May 2024, with £2.4m profit and 51 employees. The company is classified under “manufacture of basic iron and steel and of ferro-alloys” and is based in Burntwood; we hold 2 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 24100Manufacture of basic iron and steel and of ferro-alloys SIC 25990Manufacture of other fabricated metal products n.e.c.

Status: Active
Location: Burntwood, West Midlands
Age: 34 yrs · since 1992
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently. From the filing: “The immediate parent undertaking of the company is SPM Group Midlands Limited, a company registered in England and Wales.”

Latest accounts · year to 31 May 2024

Key figures

Capital-lightCash flow filed

Revenue

£71m

Growth ▼16%

Profit

£2.4m

Growth ▼43.4%

Profit margin

3.3%

Gross 12.2%

Employees

Change ▲2%

Profit / employee

£46.6k

Revenue/employee £1.4m

Profitable streak

2yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 May 2023	31 May 2024
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£84.6m	£71m
Cost of sales	£73.9m	£62.4m
Gross profit	£10.7m	£8.6m
Operating profit	£5.8m	£3.5m
Profit before tax	£5.4m	£3.2m
Profit after tax	£4.2m	£2.4m
Profit (best available)	£4.2m	£2.4m
Staff costs	£1.9m	£2.1m
Employees (average)	50	51
Ratios
Profit margin	5%	3.3%
Gross margin	12.6%	12.2%
Revenue per employee	£1.7m	£1.4m
Profit per employee	£83.8k	£46.6k
Cash conversion	−230.2%	6%
Growth (year on year)
Revenue growth	—	▼16%
Profit growth	—	▼43.4%
Headcount growth	—	▲2%
Balance sheet — indirect signals, not revenue
Cash at bank	£219k	£37.1k
Net assets	£1.8m	£2.3m
Fixed assets	£2.3m	£2m
Current assets	£27.6m	£29.6m
Debtors	£17.5m	£18.3m
Deferred income	£78.3k	£72.5k
Cash from operations	−£13.2m	£212k
Source	FullAccounts · bulk data Nov 2024	FullAccounts · bulk data Nov 2024

Derived from the latest filing

How the business works

Profit margin: 3.3%; Profit ÷ revenue.
Gross margin: 12.2%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £1.4m; Revenue ÷ average employees.
Profit per employee: £46.6k; Profit ÷ average employees.
Cash conversion: 6%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 2.9%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 0.1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 25.8%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▲32%; Now £2.3m
Cash at bank: ▼83%; Now £37.1k
Headcount: ▲2%; Now 51
Deferred income: ▼8%; Now £72.5k
Fixed assets: ▼10%; Now £2m

Corporate ownership

Group structure

Ownership chain

SPM Group Midlands Limitedultimate parent75–100%
Steel Processing (Midlands) Limitedthis company

Bands show the share of ownership each company holds in the one below it.

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 May 2024 (profit £2.4m), from the Companies House accounts bulk data published Nov 2024. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.