Cleveland Bridge returns to profit

Now under a new management team, Cleveland Bridge UK has reported profits of £2.5M for the financial year ending 31 December 2015.

The company said this is the first profit the Darlington-based steelwork firm has returned in four years, reflecting the success of the current management team to turn the business around over the past twelve months.

Turnover at Cleveland Bridge UK, which is owned by Al Rushaid Petroleum Investment Company, increased in 2015 by 53 per cent on the previous year to £51.5M.

Cleveland Bridge UK Ltd has secured a number of UK and international projects for 2016 and 2017, which it says will support further turnover growth for 2016.

These projects include an extension to the M74 motorway in Scotland, the redevelopment of London Bridge Station and the A6 Manchester Airport Relief Road.