Darlington steelwork contractor Cleveland Bridge UK has delivered a second year of profit after a major business restructure in the wake of five years of losses.
The bridge specialist is now planning for expansion and forecasting turnover to rise to £44m this year and top £60m in 2018 on the back of orders for the A14 and prospects for HS2 major structures work.
In addition to fabricating and erecting bridges, the steelwork contractor has also returned to the building structures and bridge services markets, sectors where the firm has previous experience and skills.
Its new management team today reported profits of £4m last year, up £1.5m on its turnaround year.
The firm’s headcount rose from around 230 in 2015 to 300 last year.
Chris Droogan, Managing Director of Cleveland Bridge UK, said: “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.”
from Construction Enquirer http://www.constructionenquirer.com/2017/10/04/cleveland-bridge-eyes-expansion-as-profit-rise-50/
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