In the manufacture of a structural member comprising a thermoplastic composite core with an exterior reinforcing layer, the core member is initially extruded in the shape of a profile. The profile is then contacted with reinforcing fiber and resin to form the exterior reinforcing layer. The exterior thermosetting layer is cured to form a reinforcing layer. The structural member is preferably manufactured using a pultrusion method in which a tractor device is used to provide linear movement of the profile from the extrusion head to the exterior coating operation. The fiber-reinforced thermoset is coated on the entirety of the exterior of the profile or is applied only on a portion of the profile requiring reinforcement in a defined load-bearing direction. A preferred thermoplastic core comprises a polymer-fiber composite material. A structural member of the invention has significantly improved Young's modulus providing strength for applications such as telephone poles, electric poles, electric lighting poles, boat mast or keel applications, lumber replacements, structural members used in window and door manufacture, etc.