Seddon Construction edges back into profit

Seddon Construction has managed to edge back into profitability according to its latest financial report, despite “severe” trading conditions. 

Turnover for the year ended 31 December 2023 was close to £155.3 million, up from £149.7 million in the previous trading period, generating a pre-tax profit of £201,584 (FY2022: £15 million loss).  

The group posted an operating profit of £580,000, compared to a £15.6 million loss in the prior year. 

While cash levels and net assets held relatively steady at £5.5 million and £22.3 million respectively.   

Profit for the year at 31 December 2023 was reported at £41,800 (FY2022: £11.6 million loss).  

The Bolton-headquartered building and maintenance contractor also has offices in Birmingham, Stoke-on-Trent, and Normanton (Yorks). 

A word from the top  

“The turnover increase in 2023 is modest given the inflationary environment, but this was very much intentional and was as a direct result of a high degree of selectivity around projects in order to manage our risk exposure and to focus on opportunities that we are best equipped to deliver,” said Seddon. 

“In conjunction with this risk management focus, the company continues to target a diverse workload with an ever-increasing focus on property services, decarbonisation, painting and maintenance work together with continued growth of the well-established social housing arm – both new build and refurbishment/decarbonisation.” 

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