How much does Quadgas Midco Limited make?

Quadgas Midco Limited reported revenue of £2.5bn and £239m profit in the year to 31 Mar 2026, according to its accounts filed at Companies House.

How many employees does Quadgas Midco Limited have?

Quadgas Midco Limited reported an average of 5,923 employees in the year to 31 Mar 2026.

Is Quadgas Midco Limited profitable?

Yes — Quadgas Midco Limited reported a profit of £239m in the year to 31 Mar 2026.

Company No. 10615396 · Incorporated 13 Feb 2017

Quadgas Midco Limited

Registered name: QUADGAS MIDCO LIMITED

Part of Macquarie Asset Management UK Holdings NO.1 Limited group

Quadgas Midco Limited made £2.5bn revenue and £239m profit in the year to 31 Mar 2026.

Quadgas Midco Limited’s revenue grew 15% to £2.5bn in the year to 31 Mar 2026, with £239m profit and 5,923 employees. The company is classified under “other business support service activities” and is based in Coventry; we hold 3 years of its filed accounts.

Full P&L filedSection N · Administrative and support servicesSIC 82990Other business support service activities n.e.c.

Status: Active
Location: Coventry, West Midlands
Age: 9 yrs · since 2017
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.

Latest accounts · year to 31 Mar 2026

Key figures

Operating leverageDoing more with less

Revenue

£2.5bn

Growth ▲14.6%

Profit

£239m

Growth ▲53.2%

Profit margin

9.6%

Employees

5,923

Change ▼6.9%

Profit / employee

£40.4k

Revenue/employee £420k

Profitable streak

3yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
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	£845m	£597m	£841m
Profit before tax	£481m	£209m	£330m
Profit after tax	£343m	£156m	£239m
Profit (best available)	£343m	£156m	£239m
Employees (average)	6,215	6,361	5,923
Ratios
Profit margin	15.1%	7.2%	9.6%
Revenue per employee	£366k	£341k	£420k
Profit per employee	£55.2k	£24.5k	£40.4k
Growth (year on year)
Revenue growth	—	▼4.6%	▲14.6%
Profit growth	—	▼54.5%	▲53.2%
Headcount growth	—	▲2.4%	▼6.9%
Balance sheet — indirect signals, not revenue
Net assets	—	—	—
Source	Accounts · bulk data Jul 2025	Accounts · bulk data Jul 2025	Accounts · bulk data Jul 2026

Derived from the latest filing

How the business works

Profit margin: 9.6%; Profit ÷ revenue.
Gross margin: —; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £420k; Revenue ÷ average employees.
Profit per employee: £40.4k; 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.

Indirect — not revenue

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 —

Corporate ownership

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 Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Subsidiaries (3)

Cadent Gas LimitedRev. £2.5bn · Profit £415m
Cadent Services LimitedFigures not disclosed
Quadgas Finance PLCFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

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Sources

Companies House profile Filing history & original accounts

Latest figures from accounts for the year to 31 Mar 2026 (profit £239m), 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.