Cleveland Cable Company Announces Outstanding Financial Performance
One of the North East's most prominent industrial firms has revealed a substantial boost in both revenue and profitability during what company directors have labelled a "year of exceptional trading." Based in Middlesbrough, Cleveland Cable Company has published its financial accounts for the period ending April 2025, showcasing impressive growth across key metrics.
Significant Financial Improvements
The company's turnover increased from £456.5 million to £486.7 million year-on-year, demonstrating robust sales performance. Even more notably, operating profit surged from £31.2 million to £41.2 million, representing a substantial improvement in profitability. Retained earnings at the year's close reached £184.6 million, marking an increase of over £30 million compared to the previous period.
Strategic Growth and Workforce Expansion
Despite the strong financial results, the company opted not to distribute dividends to shareholders this year, having paid an £83.6 million dividend twelve months earlier. The workforce saw modest growth during the period, with total headcount rising to 598 employees, primarily through additions to operating and sales teams. Company policy prevents disclosure of geographical sales breakdowns, which management states would be "prejudicial to the affairs of the company."
Leadership Perspective and Market Position
Director Alastair Powell commented on the results, stating: "The directors are pleased to report on yet another year of exceptional trading. Both sales and profits have continued to be buoyed by the strong demand from all our markets and continued inflationary pressures on market prices." He further highlighted progress with major projects, new facilities, and overseas operations, noting the company's healthy balance sheet and liquidity resulting from strong trading performance.
Company Background and Legacy
Founded in 1978 by brothers Alastair and Michael Powell, Cleveland Cable Company has grown to become the largest cable supplier in the UK and Ireland over nearly five decades of operation. The Powell brothers, with an estimated wealth of £701 million according to the Sunday Times Rich List, rank among the North East's most successful business figures and also own The Keys restaurant in Yarm.
Operational Footprint and Notable Projects
The company operates from a substantial 12-acre headquarters in Riverside Park, Middlesbrough, featuring over 160,000 square feet of warehousing space. Its national network includes depots in:
- Newcastle
- Northampton
- Warrington
- Bristol
- Glasgow
- London
- Birmingham
International operations span Ireland, Dubai, Saudi Arabia, Sweden, Germany, Italy, Portugal, and Norway. Among its notable projects was an £8 million scheme for the 2012 London Olympics, involving 940,000 metres of cable installation.
