Winvic revenue tops £400m on soaring shed demand

Aaron Morby 7 years ago
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Shed specialist Winvic has delivered another year of soaring growth more than doubling pre-tax profit from £9.6m to £22.8m.

Lidl distribution centre at Exter Gateway site near Honiton
Lidl distribution centre at Exter Gateway site near Honiton

The firm is now targeting turnover of more than £500m this year after revenues jumped by over 80% to £418m, in the year to January 2016 with a staff of just 140.

The Northampton firm, which was set up in 2001, has grown rapidly in the last two years on surging demand for industrial and distribution warehouse construction.

Since 2014 sales have jumped from £135m and the firm now delivers an operating margin of 5.2%.

Winvic recently completed a one million sq ft hub in the East Midlands for Amazon.

It is now understood to have just won a major distribution warehouse for Lidl at the Exeter Gateway site in East Devon and another in Leicester. Both schemes are together worth more than £40m.

Managing director Simon Girardier said: “The occupier led industrial and distribution opportunities would appear to remain strong, whereas speculative development is always subject to varying conditions.

“Our capability for large scale civil engineering, earthworks and infrastructure projects will allows us to construct a number of new developments throughout the year.”

He added that Winvic would also look towards retail projects for future growth after securing the Rushden Lakes retail scheme in East Northamptonshire this year.

“Our sectors of operation will broaden and we will look to secure work in the out of town retail sector.

“This type of work matches our skillset and can be accommodated comfortably within our existing infrastructure,” he said.

 

 

 

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