Member Article

Profits up £1.5m for restructured Darlington engineering firm

Cleveland Bridge UK Ltd has reported profits of £4m for its financial year ending 31 December 2016, an increase of more than £1.5m on the previous year.

The results mark the Darlington-based company’s second successive profitable year, which follow repeated losses prior to the installation of its new management team.

The design, fabrication, construction and engineering business is also anticipating further profit rises after securing a number of UK and international projects for 2017 and 2018, which will support further turnover growth.

Cleveland’s new management team was put in place in 2015 and can celebrate the company’s return to profit for the first time in five years. MD Chris Droogan reflects on the team’s impact on turning the company’s fortunes around.

Chris commented: “The focus and ability of the new management team, supported by our talented, skilled and dedicated workforce has enabled the business to not only achieve a second successive year of profit, but deliver a significant increase.

“The investments we have made in our facilities, equipment, processes and people are ensuring that Cleveland Bridge UK can successfully continue an engineering legacy of 200 years, which has seen the company achieve a global reputation across six continents.

“We are well-placed to benefit from continued infrastructure investment in domestic and international markets, which will enable the company to strengthen its market share and underpin profit and growth expectations.”

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