We have now released our annual results for the year ending 31 January 2024. It is with pleasure that we can confirm another strong year of growth achieving a record £50.2m turnover and strong profit margin and balance sheet.
The results reveal a 44% increase in turnover from Y/E 2023, due to our range of project values from small and niche through to large-scale £10m logistics refurbishment schemes. We anticipate growth across industrial, commercial and specialist sectors – paving the way forward for continued and controlled expansion.
Managing director Martin Vella said: “We’re very proud of our financial results and our continued ability to offer clients a reliable, experienced team to deliver their projects. It has been a challenging few years for the construction sector with a number of unexpected events meaning we must remain agile, but we have proven our resilience and successfully contributed to a variety of schemes in the process.
“Our way of operating means there are multiple reasons for our ongoing growth, one of which is strong relationships with a long-established client base and a resounding amount of repeat business. However, we’re also pleased to be securing projects with new clients with successful track records, making our mark in multiple sectors and widening our geographical presence.”
Our balance sheet and positive cash flow provide foundations on which we continue to build, allowing the flexibility needed to remain financially robust in uncertain times, as well as offering clients the assurance of financial stability.
Martin continued: “We want our financial results to highlight that we are a safe pair of hands with extensive resources, capable of derisking projects. Our portfolio of work in the industrial and logistics sector is what we are most known for, but our pipeline of work in sectors such as commercial and science and technology demonstrate that we’re always scanning for exciting opportunities to use our varied expertise.”
We continue to invest in our future by creating opportunities for staff, who are our greatest asset. We have a directly employed workforce in excess of 60 employees, with a high retention rate proven by more than 35% having worked here for more than 10 years. The introduction of a junior board has created a platform to grow leaders of the future, while since 2018, every single apprentice that has been through our bespoke apprenticeship scheme has continued their career journey within the business.
A project highlight within our most recent financial year is the completion of a 32,700 sq ft industrial refurbishment in West London for SEGRO, which achieved BREEAM Outstanding status – the first industrial refurbishment project to achieve this status globally. Maintaining our eye for opportunity within the past year, we also announced the formation of a partnership with The Arch Company, which will see us support with the restoration of railway arches in locations predominantly along the viaduct from Battersea to Bermondsey to bring them back into use for businesses to operate from.
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