Stockport-headquartered OCU Group has delivered record revenue and consistent margins, marking another year of strong growth and investment.
Group revenue for the year ended 30 April 2024 rose to £611 million, a 34 per cent increase on the previous year.
Bosses said the result reflected strong organic growth across multiple sectors as well as the impact of five strategic acquisitions made in the year.
And, with an adjusted operating profit of £58.4 million, up 13.2 per cent on the year prior, chief financial officer (CFO), David Snowball, said operational efficiency as well as major investment had underpinned the group’s financial performance.
“OCU continues to make excellent progress towards our strategic objectives, delivering record revenue growth and consistent margins in the year, all underpinned by our drive for operational excellence and the significant investments we are making,” he said.
Acquisitions made during the year strengthened the group’s market position in key utility markets, notably water, while expanding its energy transition capabilities.
OCU recently announced the acquisition of Purestream Industries, based in London and the South East, which provides creative water and wastewater engineering, design and consultancy services to the Utilities sector.
It also recently acquired Scottish civil engineering firm, RJ McLeod, and M&E and civils contractor, Northavon Group.
Other acquisitions include London utility specialist, Modus, fibre optic specialist, InICT, multi-utilities hub, Opals, Surrey-based power systems design and engineering service, Andrews Associates, and FKS, a telecom installation outfit in Wigan.
OCU Group CEO, Michael Hughes, said: “OCU continued to evolve at pace during the year – through thoughtful and strategic acquisitions and innovative organic initiatives, all driven by an exceptional team across the country.
“As we leave the year, we stand even better placed to secure the opportunities that the tailwinds in our end markets present.”
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