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Latest results for the year to December 31 2024 show pre-tax profits up to \u00a35m from \u00a33.1m last time as turnover ticked-up to \u00a3265m from \u00a3261m.<\/p>\n
The privately-owned firm more than doubled its cash balance to \u00a336m the year end \u2013 the highest ever on record. <\/u><\/u><\/p>\n
Radcliffe is optimistic about future prospects with \u00a32bn worth of visibility in the forward order book.<\/p>\n
He said: \u201cWe\u2019ve made real progress as a business over the past few years as we fundamentally repositioned our group to target the most attractive segments of the market, and we\u2019re in a really good place right now \u2013 which, many would argue is at odds with the broader industry narrative that suggests challenging trading conditions are persisting.<\/p>\n
<\/u>\u00a0<\/u>\u201cDuring the first half of 2024, we closed out the majority of contracts that had been impacted by the aggressive rise in cost inflation over the previous two years, and in the second half of the year, every division of the group performed exceptionally well.<\/p>\n
\u201cWith liquidity at an all-time-high, expanding gross profit margins, and a business plan delivering as intended, our group is well-positioned for continued success, with 2025 set to show an even greater improvement in profitability. <\/u><\/u><\/p>\n
<\/u>\u00a0<\/u>\u201cThat being said, we are certainly not being complacent \u2013 we must continue the relentless execution of our group strategy \u2013 a strategy that saw us through the challenging times during and after the pandemic.<\/p>\n
\u201cThis, coupled with our prudent approach to working capital management, sensible work winning strategies, and quality and safe delivery, will provide a solid foundation for a prosperous future.\u201d <\/u><\/u><\/p>\n
Radcliffe added: \u201cOur strategy of focusing on resilient market segments has served us well in recent years, culminating in a headline order book exceeding \u00a32 billion. Building on this momentum, we are actively pursuing additional opportunities within our core markets and anticipate continued growth in both turnover and margins into the future.<\/p>\n
\u201cOur long-term vision is clear and we are strongly positioned to navigate the ups, downs and challenges that all businesses face, particularly in the construction industry.<\/p>\n
\u201cI\u2019m genuinely proud of the dedication shown by everyone in the business \u2013 their incredible hard work, technical brilliance and laser focus on delighting our clients has helped shape the strong position we are in today. And, as ever, we are enormously grateful to our valued clients and our loyal supply chains for their continued support.\u201d<\/p>\n<\/p><\/div>\n