Shaylor margin rises to 4.5% in bumper year

Aaron Morby 6 years ago
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Midlands contractor Shaylor Group soared to record revenue and profits last year on the back of framework agreements and repeat clients.

Stephen Shaylor says firm recruited 40 staff to cope with growth spurt
Stephen Shaylor says firm recruited 40 staff to cope with growth spurt

Stephen Shaylor, chief executive, said the firm has broadly targeted 20% growth year on year for the business, delivering earnings of more than 5% through a mix of premium and serial business.

In the year to September, Shaylor exceeded its growth targets as pre-tax profit jumped by half to £6.5m on revenue also ahead 40% at £143m.

This improved performance on the back of residential schemes and care home work for developers like Pegasus saw margins edge up from 4.3% to 4.5% across the year.

Eighty percent of the Group’s revenue is now derived from frameworks and relationship-led business.

Shaylor said it now has places on over 25 framework agreements, including Ministry of Justice, the Government Hubs fit-out framework and Mapeley STEPS.

As a result of the growth spurt, during the course of the year Shaylor recruited another 40 staff bringing the directly employed headcount to around 260.

He added said that the firm was investing in improving staff facilities and training opportunities, pushing staff retention levels past 80% for the year.

The initiatives helped the group win a Construction Enquirer best main contractor to work for award last year for firms with up to £250m revenue.

Looking forward Shaylor said: “We already have 80% of our target order book secured. We also have a strong number of prospects under consideration and have revenue visibility into the following fiscal period through longterm partnering programmes and relationship-led business.

The group ended the year with cash balance of £14.7m.

 

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