Sandwell lock maker Lowe & Fletcher has revealed that its turnover nearly hit the £80m mark during the last financial year.

The historic Oldbury-based business reported a turnover of £79.9m for the year to 31 December 2017, up from £74.3m from the previous 12 months. However, the company’s pre-tax profits dropped from £6m to £5.8m during the same period.

Lowe & Fletcher Ltd is part of the family-run Lowe & Fletcher Group, founded in 1889 by John Lowe and Thomas Fletcher. The company specialises in lock design, manufacture and supply. It supplies locking solutions to a range of sectors, including automotive, manufacturing, healthcare, leisure and education.

The firm’s locking systems range from simple mechanical locks to the latest electronic locks and include many bespoke solutions for its clients. Its factory in Sandwell supplies locks to the whole of the UK and Ireland, as well as further afield – as far away as the Middle East, Canada, India, Africa and the Caribbean.

The Lowe & Fletcher Group supplies 60 million locks annually worldwide and the company’s strategy statement says: “We aim for profitable growth by meeting the needs of our customers.”

It looks like the company is achieving this aim with the growth in turnover reported.

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