Caddick Construction is seeking to boost revenues even further this year as it reports a strong secured order book amid a wider expansion of the business.
Turnover for the year ended 31 August 2024 rose 12 per cent to £355.1 million from £317.6 million the year before, generating a pre-tax profit of £8.3 million (FY2023: £7.3 million).
The group’s civil engineering business, which currently receives much of its workload from housebuilding companies, also reported a rise in turnover, of 17 per cent.
The wider group continues to expand, with a new regional office in Birmingham opened during the period to service contracts in the Midlands.
The current order book for the construction company is strong with a secured work value of just under £500 million, the majority of which falls within the forthcoming year, as Caddick targets increased revenue of £400 million.
At the year end the Wakefield-headquartered company’s balance sheet showed net assets and total equity of £34 million (FY2023: £29.9 million), with improved cash reserves too of £32.7 million.
Operating profit was also strengthened during the period to £6.9 million, compared to £6.7 million the year before.
Profit for the year was £6.2 million, up from £5.7 million in 2023.
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