Incinerator jobs fire up Clugston’s profits

Aaron Morby 12 years ago

Clugston has returned to profit on the back of a string of energy from waste project wins.

The firm was one of the first contractors to spot upcoming demand for incinerator projects to cut waste to landfill and has notched up three major schemes, each worth around £30m.

These have helped Clugston Group return a £2m pre-tax profit after plunging £4.4m into the red the year before.

In the year to January 2012, the construction arm delivered operating profits of £3.3m at a margin of 4.5%, but group performance was dragged down by  logistics and property businesses, which made small losses.

Turnover at the contracting arm was up a third at £74m.

Energy from waste projects in Lincolnshire, Staffordshire and Oxfordshire are progressing well in conjunction with joint venture partner Constructions Industrielles de la Méditerranée (CINIM).

Clugston also revealed it had reached preferred bidder stage on a further three large EfW schemes.

The firm also recently won Cleethorpes Academy, its first scheme under the national partnership for schools framework.

But Clugston also revealed it had pulled out of the drainage repair sector due to falling AMP5 orders. It is also winding down its reactive maintenance business in Scotland where the firm offered local authorities specialist drainage services.

Steve Radcliffe, Clugston Construction’s managing director said: “We are extremely pleased with these results, which we are aware run counter to the general construction market place as it still remains depressed.

“The results have been achieved thanks to a lot of hard work by our entire team and sticking to our strategy of developing a responsive value for money service from our regional offices, whilst developing our expertise in the growing waste reduction and renewables sector.”

Total cash at the end of the year jumped to £15.7m from just £1.9m in January 2011.

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