Expanding Winvic forecasts £650m turnover by 2019

Aaron Morby 4 years ago
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The country’s leading shed builder is reaping the benefits of a move into student room and private rental accommodation projects.

Winvic has topped out its Fairfax Street 1,200 room student scheme in Coventry
Winvic has topped out its Fairfax Street 1,200 room student scheme in Coventry

Northampton contractor Winvic has expanded its multi-room building business with five projects of £20m-£45m value in the Midlands.

An increase in project size in its traditionally strong industrial market has also helped to raise turnover 5% to £485m, generating a 10% uplift in pre-tax profit to £31m in the year to 30 January 2018.

The firm now boasts an operating margin of 6.4% from a staff headcount of around 200 employees.

Managing director Simon Girardie said: “The group’s prospects look very positive got 2018 with a forward order book of £590m with a pipeline of secured contracts across our five key operating sectors, including £110m within multiroom.

“We are confident of another good year and we envisage our financial year ending January 2019 will produce a consistent growth in turnover forecasted at £650m.”

He added that the group’s key industrial market would remain a core sector amid a trend towards larger projects and multiple unit contracts.

“With the ever-increasing demand for consumer delivery services, we expect to remain the leader in the industrial market, increasing the number and value of projects from both new and repeat business clients.”

Over the year net cash rose by around 40% to £76m

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