The Peterlee company has seen revenues rise in its latest accounts
A North East battery maker is targeting revenues of £100m in the next few years after returning to growth in its latest accounts.
Peterlee-based Alexander Battery Technologies (ABT), which specialises in customised rechargeable batteries for industries from medical devices to robotics, has released accounts for 2023 in which turnover rose from £14.1m to £17.9m. Operating profit also rose from £62,000 in 2022 to £1.7m last year.
The accounts mark a return to profit after two years of sales decline from a high point of £46m in 2020, due to unusually heightened demand during the Covid pandemic. The company said the performance was in line with its five-year plan, which envisages significant growth in both headcount and revenues, as well as plans to open a site in Europe.
