Growing numbers of customers and projects helped to deliver a boost in sales and profits at North East battery manufacturer Alexander Technologies.
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.
Within the accounts, directors explained how the firm had been growing its projects, while also focusing on driving forward sales and marketing activities.
A report signed off by the board said: “Throughout 2024, the company maintained its core activities in designing and manufacturing customisable battery packs and chargers for portable power products across sectors such as personal safety, medical, power tools, and specialist OEMs.
“The directors are satisfied with the company’s performance, as infrastructure projects continued to yield positive results, contributing to sustained growth and alignment with our strategic objectives. Notably, the company developed products for a range of applications, including high-voltage solutions, successfully implemented a state-of-the-art ERP system to enhance data collection and part traceability, and invested in a first-in-market Laser Welder to further strengthen manufacturing capabilities.
“The growth in turnover and Ebitda is driven by an expanding project and customer base, allowing the company to continue investing in business development and advanced manufacturing equipment.
“The company remains committed to designing, manufacturing, and delivering high-quality products on time, servicing existing customers, and expanding the customer base to fully utilise the capacity of its world-class manufacturing facility.
“The company will continue to prioritise sales and marketing efforts to diversify its customer base and drive expansion across various markets. Additionally, ongoing research and development of new projects will support long-term growth and optimise manufacturing capacity.”
ATEL added how its apprenticeship scheme, launched in 2021, continues to be successful in developing internal skills and knowledge, with increased participation in engineering and other business areas. It added: “The company maintained its Gold Membership status in The 5% Club in 2024, reflecting its commitment to “earn and learn” positions, including apprenticeships, sponsored students, and graduates on formalised training schemes.”
