Darlington-based Cleveland Bridge UK has reported profits of £4 million for 2016 — an increase of more than £1.5 million on the previous year.
These results made 2016 the company’s second successive profitable year, after many years of losses. It has secured a number of UK and international projects for 2017 and 2018, and its turnover is forecast to be about £60 million in 2018 (compared to £44.2 million in 2017).
These projects reflect the company’s success in rebuilding its order pipeline, which has been achieved through an increased share of the UK construction market and improved client relationships (
www.clevelandbridge.com).
Investment in infrastructure is also providing long-term opportunities for the business. In addition to the fabrication and erection of bridges, the company has returned to the building structures and bridge services markets; it has also introduced new safety procedures and operational improvements, and it has expanded its workforce.
The company now employs more than 300 people, including 23 apprentices.
Chris Droogan, managing director of Cleveland Bridge, said “The investments we have made in our facilities, equipment, processes and people are ensuring that the company can successfully continue an engineering legacy of 200 years, which has seen it achieve a global reputation across six continents.
“We are well-placed to benefit from continued infrastructure investment in domestic and international markets.”