Caledonian Modular hopes to return to profit next year

Aaron Morby 5 years ago
Share

Caledonian Modular is predicting a return to profit next year after enduring two years of losses.

Newark-based offsite specialist is investing to deliver pipeline of work
Newark-based offsite specialist is investing to deliver pipeline of work

Latest accounts reveal the East Midlands offsite specialist, which delivered the Hinkley Point site worker village, suffered a £0.74m loss this year after falling £3.7m into the red in 2018.

The firm said it had a very strong order book and pipeline and was forecasting a return to the black in the year ending March 2020.

While revenue slipped by 5% to £50m, the decline was a reflection of the completion of a large order for the nuclear power station worker accommodation.

During the year over £1m was invested in recruitment of staff to service expected growth, significantly strengthening design and project management.

Caledonian Modular said it expected to undertake a substantial pipeline of shools work in the next two years after securing top place on Batch C and second on Batch C of the Department for Education and Schools modular construction framework.

Paul Lang, Chief Executive Officer of Caledonian Modular, said that this would add to a significant pipeline in student accommodation, flats, hotels and healthcare.

During the year Caledonian employed an average of 213 staff.

Latest news

Funding deal for Salford Michigan Tower job

Vermont Construction to build first 34-storey tower for developer X1
26 mins ago

Morgan Sindall bags £60m raft of NHS projects

Mid and South Essex NHS Trust plans six projects
16 hours ago

Peri buys shoring and temporary bridge specialist Mabey Hire

Scaffolding and formwork specialist expands offer
21 hours ago

Steel contractor Embrace targets £100m revenue

Growing structural steel specialist appoints COO
21 mins ago

Vinci/McAlpine go-ahead for £312m Midlands hospitals revamp

Shrewsbury and Telford Hospital NHS Trust gets full business case approval
24 hours ago

Lendlease puts construction arm up for sale

After two decades of global expansion Lendlease retreats to Australia
2 days ago

Mount Anvil seals Isle of Dogs estate rebuild

Firm will build 300 new homes at East London's Tiller Road Estate
24 hours ago

Northumbria Uni invites bids for £75m CHASE project

12-storey student block to be demolished for new Centre for Health and Social Equity
23 hours ago

Civils firm Akela appoints former Robertson director as MD

Framework expert Robert Ogg to lead growth at Scottish contractor
24 hours ago

McLaren to build new Hertfordshire primary school

Contractor to prioritise local suppliers on High Leigh Garden Village site
23 hours ago

Developer picked for Stafford town centre regeneration

ION Developments will draw up detailed plans for mixed-use Eastgate scheme
24 hours ago

Former Crossrail boss Mark Wild to lead HS2

Wild to bear down on spiralling costs and bring rejigged scheme in on time
3 days ago

Receivers in at £125m Manchester tower developer

Domis Construction walked away from scheme following doubts over funding
3 days ago

Costain A1 £260m dualling job finally gets go-ahead

Ministers sat on planning inspectors report for nearly three years
2 days ago

Election delays decision on Lower Thames Crossing

Planning decision on £1.2bn Luton airport expansion also pushed back six months
2 days ago

Caddick steps-in at former Lane End housing job

Contractor to restart phase of £262m scheme hit by administration
2 days ago

Plans in for Leeds iconic Tetley building revamp

Former brewing giant's HQ to become indoor market and offices
2 days ago

BAM wins first phase of North Devon hospital revamp

New staff accommodation to kick-off hospital redevelopment
2 days ago

McAlpine pulls out of £55m Carlisle Citadels project

University of Cumbria starts hunt for replacement contractor
7 days ago

Strabag UK suffers further big trading loss

Austrian contractor is gearing up for major presence in the UK market
6 days ago

Durham Uni picks UPP for £130m student scheme

Firm will deliver 1,000 self-catered bed spaces
6 days ago

Architects now upbeat after 10-months of work gloom

Larger practices see rising workloads in next three months
6 days ago

Motorist dies after collision with road paver

Police Scotland investigating fatal crash
7 days ago

McLaren Living appoints HG Construction for £69m scheme

Build to Rent scheme will transform former vacant car park site in Leeds city centre
7 days ago

Squibb liquidator probes £2m of “missing” plant

Machinery, cars and scrap metal have disappeared at demolition specialist
7 days ago

Galliford Try to re-enter affordable homes market

Contractor sets out new five-year plan to build margin to 4%
7 days ago

Former Sellar chief to lead civils contractor Kilnbridge

Owen Dannatt joins as new CEO as founder Dermot McDermott becomes Chairman
7 days ago

Hunt starts for nuclear fusion plant construction partner

Fusion energy plant to be built at West Burton coal power station site.
7 days ago

National Grid raises £7bn for big infrastructure upgrade

Rights issue to fund a major round of capital investment in energy infrastructure
7 days ago

Grenfell police probe to last at least until end of 2025

19 companies and 58 individuals could eventually face charges
1 week ago

Contractor services