Paralloy Ltd is a global manufacturer of stainless steel and nickel alloys, and this year landed a King's Award for International Trade.
Newly filed accounts have shown that, in the year ending 31 March 2024, Paralloy turned over £93.5m - up from £75.2m in the prior year.
A pre-tax profit of £4.3m was recorded compared to a loss of £2.3m.
Writing in a report with the accounts, Paralloy called the year a "positive" one, despite "ongoing energy, inflation and metal volatility".
"Building on the previous years' solid foundations the company was able to continue its achievements in research and development resulting in new patents that will attract future value", it added.
During the year, the manufacturer reached significant milestones including record order intake, order wins and revenue.
It also expanded its new Teesside Advanced Manufacturing Park factory in Middlesbrough for the third time and grew its headcount to more than 500 people.
"Paralloy has been successful in winning various contracts that have a focus on carbon reduction, in line with its strategy. And it will continue developing products to support its customers to lower carbon emissions for the future", the report continued.
Post year end, private equity firm Nimbus exited the business, having acquired it in 2019.
