Story Contracting has achieved significant growth in its latest financial results, after several key framework awards were secured by the business.
Turnover for the year ended 31 March 2024 was £253.2 million, up 23 per cent from £206.3 million the year prior, generating a pre-tax profit of £8.9 million (FY2023: £3 million).
This result was driven by increased volumes of work via CP6 frameworks with Network Rail, as well as projects such as the Hope Valley Joint Operation with Volker Rail, the Oldhall-waste-to-energy plant in Scotland, and construction works on the Carlisle Southern Link Road.
The Cumbria-headquartered construction-engineering business turned in an operating profit of £8.4 million, compared to £2.8 million in the previous year.
At the year end, Story’s balance sheet had net assets and total equity of £46.7 million, up slightly from £45 million recorded the year before, with strong cash reserves of £23.3 million (FY2023: £3.5 million).
Story posted profit for the year of £6.8 million, up from £2.4 million recorded the year prior.
The business has offices in Carlisle, Birmingham, Blantyre, Chorley, Middlesbrough, and York, with depots in Normanton, Salsburgh, and Birmingham.
A dividend of £6 million was declared in December last year and is due to be paid in January 2025.
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