Clancy reports record turnover of £378m

Clancy has announced record results for the 2023-24 financial year, its sixth consecutive period of growth. 

The family-run infrastructure specialist achieved a 13 per cent increase in turnover in the last financial year, posting £378.5 million, and generated £20.9 million in pre-tax profits, 54.8 per cent up on the prior twelve months. 

With a secured order book of £1.5 billion, the company has been buoyed by strategic wins in the water and energy markets. 

These include capital frameworks with Southern Water and South West Water ahead of the AMP8 water regulatory period in April 2025, as well as Scottish and Southern Energy Networks and UK Power Networks.    

Gross profit was £38.4 million, compared to £34.9 million in the previous year. 

Clancy also deployed its civil engineering expertise to phases of HS2, including bridge foundations, earthworks and track drainage. 

Strong profitability and a robust cash position (£34.2 million) also enabled the business to reinvest £11.2 million in new plant and technology to improve productivity and efficiency. 

Now in its 66th year, the business said another period of growth is its reward for its investment in people, plant and systems.   

“The past year has seen us expand our client base and increase the scale and breadth of our work, especially in capital projects which now account for an ever-greater portion of our revenue,” said chief executive Matt Cannon. 

“With rising scrutiny over the challenges facing infrastructure sectors, we are fulfilling a need for stable, long-term partnership that our family-run model supports. 

“A focus on brilliant delivery and smart investments in people, plant and tools are key to our success.   

“Our prioritisation of direct employment ensures we bring consistency in quality and safety, together with the best available expertise. 

“With a secure pipeline through 2025 and in the second half of the decade, we are well placed to invest further in the systems and skills we need: accelerating the connections and upgrades across infrastructure to support growth, increase environmental protection, and accelerate the green transition.” 

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