Cadent Gas Limited
Registered name: CADENT GAS LIMITED
Part of Macquarie Asset Management UK Holdings NO.1 Limited groupCadent Gas Limited made £2.5bn revenue and £415m profit in the year to 31 Mar 2026.
Cadent Gas Limited’s revenue grew 15% to £2.5bn in the year to 31 Mar 2026, with £415m profit and 5,923 employees. The company is classified under “distribution of gaseous fuels through mains” and is based in Coventry; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- Coventry, West Midlands
- Age
- 10 yrs · since 2016
- Type
- Private Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2024 | 31 Mar 2025 | 31 Mar 2026 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £2.3bn | £2.2bn | £2.5bn |
| Operating profit | £893m | £645m | £889m |
| Profit before tax | £690m | £413m | £557m |
| Profit after tax | £516m | £304m | £415m |
| Profit (best available) | £516m | £304m | £415m |
| Employees (average) | 6,215 | 6,361 | 5,923 |
| Ratios | |||
| Profit margin | 22.7% | 14% | 16.7% |
| Revenue per employee | £366k | £341k | £420k |
| Profit per employee | £83k | £47.8k | £70.1k |
| Growth (year on year) | |||
| Revenue growth | — | ▼4.6% | ▲14.6% |
| Profit growth | — | ▼41.1% | ▲36.5% |
| Headcount growth | — | ▲2.4% | ▼6.9% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Nov 2025 | Accounts · bulk data Nov 2025 | Accounts · bulk data Jul 2026 |
How the business works
- Profit margin
- 16.7%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £420k
- Revenue ÷ average employees.
- Profit per employee
- £70.1k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- ▼7%
- Now 5,923
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Macquarie Asset Management UK Holdings NO.1 Limitedultimate parent75–100%
- Macquarie Infrastructure and Real Assets (Europe) Limited75–100%
- Quadgas Investments Bidco Limited75–100%
- Quadgas Holdco Limited75–100%
- Quadgas Pledgeco Limited75–100%
- Quadgas Midco Limited75–100%
- Cadent Gas Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (2)
- Cadent Finance PLCFigures not disclosed
- Cadent Gas Pension Trustee LimitedFigures not disclosed
Sister companies (2)
- Cadent Services LimitedFigures not disclosed
- Quadgas Finance PLCFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Similar profitable businesses
Sources
Latest figures from accounts for the year to 31 Mar 2026 (profit £415m), from the Companies House accounts bulk data published Jul 2026. Spotted an error? Request a correction.
Updated from Companies House on 13 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.