Blenheim House Construction reports first loss in 26 years

Profitability was impacted, in part, by supply chain insolvencies which caused delays and higher costs, some of which was attributed to the war in Ukraine and the pandemic.  

“Unfortunately, this has contributed to the company reporting its first operating loss in its 26 years of trading,” the building and fit-out specialist said. 

It added, however, the overall effect on its balance sheet was “minimal”.  

Turnover for the Surrey-headquartered contractor for the year ended 30 April 2023 was £86.5 million, compared to £67.7 million in the previous period.  

“This was generally a consequence of fewer good opportunities in our sector and increase in competition,” Blenheim said. 

Gross profit was reported at £2.8 million (FY2022: £4.2 million) and the operating loss was £168,510 (FY2022: £1.1 million profit).  

Blenheim reported a pre-tax loss of £137,355 (FY2022: £1.1 million profit), with profit for the year of £162,645 (FY2022: £1.5 million profit). 

The contractor’s cash position at 30 April 2023 was nearly £6 million, down from £9.6 million in the prior period.  

Net assets were valued at £6.8 million (FY2022: £7 million).  

Turnover for the year ending April 2024 is expected to be between £80-90 million with relatively low margins, Blenheim said. 

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