Growing customer base is powering up profits

GROWING numbers of customers and projects helped to deliver a boost in sales and profits at North East battery manufacturer Alexander Technologies.

- COREENA FORD Business writer [e-mail]

Alexander Technologies Europe Ltd (ATEL), designs and makes rechargeable battery packs and chargers which are sold around the world and it has been operating from its Peterlee base in County Durham for more than 40 years.

The firm - which carried out a multimillion-pound MBO six years ago - has now published accounts for 2024, showing how it strengthened its financial position in line with its five-year growth plan, delivering turnover of £18.5m, up from £17.8m.

The company, which employed 94 people in the period, doubled operating profit from £1.74m to £3.53m, while pre-tax profits saw similar growth, rising from £1.73m to £3.53m.

Retained earnings carried forward were £13.8m, up from £10.7m, while total equity was £18.1m, a significant increase on the previous year's £14.96m.