Cleveland Bridge UK Ltd reports turnover of 50m for 2017 and returns balance sheet to positive territory
Cleveland Bridge UK Ltd has reported turnover of more than £50million for its financial year ending 31 December 2017 – an increase of more than £6m (12%) on the previous year.
The results mark the Darlington-based company’s third successive profitable year, reflecting its continued success in delivering widespread improvements across the business along with sustained growth.
This period of profitable trading since 2015 has enabled the company to build a positive Balance Sheet position for the first time since 2012, a significant milestone as it looks to continue this growth in the coming years.
During the year the world-renowned bridge builder has secured a number of UK and international projects for 2018 and beyond, which will further underpin business growth, whilst also maintaining the company’s profitability and securing jobs for the local workforce.
This growth reflects the company’s continued success in delivering successful projects entirely to client satisfaction and winning new clients to increase its share of the UK and international construction markets it serves.
Cleveland Bridge UK Ltd has also returned to the Building Structures and Bridge Services markets, to broaden it’s offering in sectors which the company has previous extensive experience and skills.
The Management Team has been boosted by the appointment of Phil Heathcock as Chief Financial Officer who has previously held Finance Director roles with prominent North East businesses in the Construction and Engineering sectors.
The business continues to drive improving Health & Safety standards, most recently achieving almost 2 years without a Lost Time Injury.
Chris Droogan, Managing Director of Cleveland Bridge UK Ltd, said “The sustained efforts of our talented, skilled and dedicated workforce and the support of our Group has enabled the business to continue to grow.”