Seddon to grow property services business

Aaron Morby 4 years ago

North West and Midlands construction group Seddon is aiming to expand its property services and housing business.

Chief executive Jonathan Seddon says the group has a strong forward order book
Chief executive Jonathan Seddon says the group has a strong forward order book

The Bolton-based construction group said it delivered satisfactory results last year despite challenging market conditions.

Overall revenue remained flat at £205m while pre-tax profit edged up 4% to £5.3m.

But pperating margin at the construction division deteriorated to 0.5% from 0.9% in 2016.

Looking ahead group chief executive Jonathan Seddon said the business had cash to invest in rebuilding the land bank for both residential and commercial property development.

He also said Seddon Construction would seek to balance its portfolio of work by further growing the property services and maintenance work.

“Our strategy to have multi-sector development and a construction company is proving successful.  We’ve developed our operating model around our customer’s needs, to provide a full range of services including build, refurbishment, extension, maintenance and compliance, ” he added.

“During 2017, the company started to see the benefits of workload diversification with an increased focus on the property services and maintenance sector, which helped to de-risk the portfolio workload.

“This strategy continues into 2018 and beyond and has been supported by the acquisition of north west-based S P Smith Electrical Contractors which provides another element to an already significant direct workforce offering.”

During 2017, new home completions fell from 261 units in 2016 to 231 units, mainly due to planning delays.

But a change in product mix and house price inflation of 6% in the north west and Yorkshire lifted revenue 9% to £49m. Pre-tax profit from residential developments improved to £3.4m from £2.6m previously.

Latest news

Balfour targets next generation floating wind farms

Balfour teams up with Aker to build concrete gravity base floating wind turbines
35 mins ago

RSK buys Scottish M&E specialist WGM Engineering

£45m turnover Glasgow contractor employs 365 mechanical, electrical, and civil engineering staff
9 hours ago

Caddick acquires assets from failed facade specialist

Deal to save Speedpanel operation from Speedclad ensures continuity on projects
10 hours ago

Cladding and roofing specialist falls £9m into red

Lindner Prater runs into loss after remedial works needed on a major job
15 hours ago

Ellmer propels growth at Byrne Group

Concrete specialist Byrne impacted by project start delays
16 hours ago

Kobelco suspends plant sales over engine scandal

Manufacturer stops selling some excavators and crawler cranes over emissions fear
16 hours ago

Watkin Jones sounds profit warning

Higher borrowing costs for buyers starting to hit sale prices and margins
15 hours ago

First nuclear fusion plant to be built in Nottinghamshire

£2bn-plus fusion energy plant to be built at West Burton coal power station site.
1 day ago

Peel sets up suburban build-to-rent developer

New Letta arm aims to build 1,000 private rental homes in the North West
15 hours ago

Wates Pre-Construction Director joins rival Real

Matt Smith joins ambitious contractor and developer
1 day ago

L&G modular homes amassed loss deepens to £174m

Modular arm suffers sixth successive loss but books first revenue of £12m
2 days ago

Chancellor does U-turn on top rate tax cut

Plan to abolish 45p top rate a "distraction" from Growth Plan
2 days ago

O’Connor Utilities buys fibre optic installer

Leeds-based telecoms contractor InICT employs over 110 staff
2 days ago

Thompsons claims UK biggest blow down at Redcar

100,000t steelmaking plant demolished using 1.6 tonnes of explosive
2 days ago

Costain and Mott MacDonald win £60m Stonehenge deal

New team in to oversee construction once scheme gets planning green light
2 days ago

Brickability buys ET Clay Products for £11.6m

Construction materials distributor acquires brick supply specialist
2 days ago

BAM accelerates net zero target to 2026

UK operations set more ambitious carbon target than Royal BAM Group
2 days ago

Seven metre roof fall from “makeshift” access system

Contractor fined £80,000 after employee fell through fragile roof
2 days ago

Self-employed labour rates hit record high

Average weekly pay tops £1,000 in London, the South East and East of England.
5 days ago

Network Rail chief takes finance reins at Skanska

Meliha Duymaz is new Chief Financial Officer
5 days ago

Construction Manager of the Year crowned

Kier's Joe O’Connell lands top prize. Full list of winners
5 days ago

Hochtief starts pulling down Welsh pylons

Construction starts on National Grid project
5 days ago

Kier wins London life sciences job

Contractor lands innovative landmark lab development at ARC West London
5 days ago

Social housing bidding opens for £1.5bn energy retrofit cash

First upgrades of social housing stock could start from early next year
6 days ago

Construction arm propels Mace to record profit

Revenue expected to top £2bn this year despite project delays
6 days ago

Fire destroys conveyor belt at Silvertown Tunnel site

Forty firefighters battle blaze at huge London site
6 days ago

Plan for £58m Bristol pharma R&D facility approved

Willmott Dixon in line to build the R&D facility at Bristol & Bath Science Park
6 days ago

Bond Street Elizabeth line station to open next month

Final station on delayed line will welcome passengers in October
6 days ago

Sisk fixes price on £227m Quintain flats job

Quintain signs single-largest contract so far at Wembley Park
6 days ago

Green light for St Helens town centre revamp

English Cities Fund to start phase 1 next April
6 days ago

Contractor services