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A sharp upturn in performance across Caddick Construction\u2019s four operations delivered the rise in turnover to a record \u00a3356m in the year-end August 2024.<\/p>\n
Pre-tax profit climbed 13% to \u00a38.3m, driven by growth across key regions and improved performance after a period of senior leadership change.<\/p>\n
Alongside growth in revenue, Caddick Construction\u2019s order book has continued to grow by 7% to \u00a3750m and year-end cash increased to \u00a332.8m.<\/p>\n
Over the past three years, the division has undergone significant change in its senior team, with several director retirements prompting a strategic reshuffle.<\/p>\n
The Yorkshire business bounced back into the black following a difficult 2022\/23 on\u00a0stronger margins despite only a modest rise in turnover.<\/p>\n
The Midlands region contributed \u00a330m after opening a new office last year. A dedicated subsidiary has now been formed to support further expansion in the region, with staff and trade transferred as of 1 September 2024.<\/p>\n
In the North West, operations continued to solidify with a more diverse sector spread including defence and education. While turnover was up 13%, profits were down compared to last year, which had benefitted from the high-margin Farington build contract.<\/p>\n
Caddick also launched a Midlands office during the year, which now trades as a separate subsidiary.<\/p>\n
The civil engineering arm reported turnover of almost \u00a316m, up 17% on last year, with profits holding steady.<\/p>\n
But, with 91% of work concentrated in just four contracts for two national house builders, the business is now looking to diversify its client base and explore intra-group and external civils work.<\/p>\n
Elsewhere, the newly launched CCL Facades business posted turnover of \u00a39.5m and pre-tax profit of \u00a30.6m in its first full year of trading.<\/p>\n
The business is delivering services both internally and to third-party clients and has been flagged for strong future growth potential.<\/p>\n
Chairman Paul Caddick said: \u201cWe\u2019ve built on a robust order book and continued to grow our operations regionally while maintaining financial stability. The \u00a3400m forecast turnover for the current year is already 87% secured.\u201d<\/p>\n
The group currently holds a \u00a3500m order book, with \u00a3347m of that expected to convert within the 2024\/25 financial year.<\/p>\n
The wider Caddick Group, including build to rent and student living business Moda and other property development, reported pre-tax profit down 18% to \u00a329m from revenue up 5% at \u00a3604m.<\/p>\n<\/p><\/div>\n