Esh staff share in £6m payout

Grant Prior 11 years ago
Share

Shareholders in the Esh Group – many of whom work for the contractor – have recently enjoyed a £6m windfall as the company posted a strong set of results.

Around 100 shareholders received an average payout of £60,000 as Esh reported a rise in pre-tax profits to £9.6m for the year to December 31 2014 compared to £3.2m in 2013.

Turnover was also up 43% to £277m as Esh benefited from its takeover of Border Construction.

The company share scheme is now being modified to “create further scope for management and employees to be rewarded and incentivised towards further growth.”

Group Chief Executive Brian Manning said: “This reorganisation has created headroom in order that we can reward more people through the share scheme.

“The payments made have been directed towards those who have left the company or are nearing retirement so that they may enjoy the fruits of their hard work.

“None of the founder shareholders or senior team has taken money out.”

Esh now employs 1,200 people.

Manning said: “Our dedicated employees have been our hard-working foundations and, with their continued support, we remain confident of further success.”

 

 

Latest news

Linear Living gets green light for Manchester resi tower

24-storey scheme to be built by Linear Design and Construct
7 hours ago

Worker dies in fall on Mayfair site

Air ambulance arrives but worker pronounced dead at scene yesterday
19 hours ago

Seddon defies sluggish market with profit lift

Operating margin restored to 2.2% despite public sector scheme delays
19 hours ago

Green light for ‘poo powered’ eco homes scheme

Yorkshire Water seeks developer for pioneering wastewater powered community
19 hours ago

Speller Metcalfe posts record £5m profit as cash pile hits £32m

Midlands contractor lifts profits despite flat turnover with nearly all next year's workload booked
19 hours ago

Apprentice joiner crushed to death by falling boards

Company and director in court after renovation site tragedy
19 hours ago

Four firms land £300m Scottish electricity network deal

Quartet to upgrade network across north of Scotland
1 day ago

Industry unites to warn new PM against more infrastructure cuts

Twenty eight leaders warn against damaging return to stop-start funding
2 days ago

Funding deal to kick-start Middlewood Locks tower phase

Scarborough JV targets early 2027 start on 909-home phase 4
2 days ago

Hampshire council seeks D&B firm for £100m housing job

Phase two set to start at country's largest council led housing scheme
2 days ago

Margins hit 4.8% as profits triple at Esh Group

Record year for North of England contractor
2 days ago

Labourer dies after scissor lift fall

Court hears falling wall panels knocked worker from machine during demolition work
2 days ago

MoD to split £6.6bn military homes maintenance mega deal

Procurement rethink aims to widen competition and boost SME opportunities
2 days ago

Vistry warns of first-half loss as daily net debt nears £800m

Finance chief to step down in October after new CEO completes strategic plan
3 days ago

Battersea job lifts Sisk to top of contracts league

Infrastructure work buoys top contractor order books in June
3 days ago

Council bosses blast ‘shoddy’ work by failed contractor

£3m of problems found on housing job hit by collapse of Westridge Construction
3 days ago

Capital&Centric lines up five Rotherham regeneration starts

Developer begins work on £100m plan for homes-led town centre revival
3 days ago

Higgins wins £47m school and flats scheme

New Hammersmith school funded by 91 flats next door
3 days ago

Balfour Beatty pumps £10m into venture capital tech fund

Contractor hopes to get on board early with construction innovators
4 days ago

Blue Sky floors tier one rivals in £176m Barbican revamp race

Boutique CM specialist beats Bovis, McAlpine and McLaren to landmark City arts job
4 days ago

HS2 workers left out of pocket after safety shutdown

Agency staff angry after going unpaid
4 days ago

140 homes and aquarium plan for Swansea Civic Centre

Urban Splash unveils retrofit plans for landmark Brutalist building
4 days ago

Graham names finance chief as next CEO after bumper year

Revenue climbs 16% as contractor enters new era with £261m cash pile
4 days ago

Green light for latest Winsford Gateway warehouse

Construction go-ahead for 225,000 sq ft logistics building
4 days ago

Buyers report sharpest fall in civils work for six years

Purchasing managers still in gloomy mood
5 days ago

McLaren employs robot army for site quality checks

Autonomous robots use AI to boost productivity, safety and quality
5 days ago

Morris & Spottiswood storms £230m turnover barrier

Fit-out and M&E specialist southward expansion fuels 46% profit rise
5 days ago

Final segment installed at problem HS2 green tunnel

Watch as last of 5,020 reinforced concrete segments goes in
5 days ago

Loan unlocks offices to student accommodation deal

Vacant Royal Albert Dock office complex to be transformed
5 days ago

Morganstone lands key role in Port Talbot steelworks revival

First main build package awarded at Tata's Project Invictus
5 days ago