The Ipswich firm joins a growing number of civil engineering contractors that are investing heavily in plant in anticipation of a work boom in 2021 and 2022.
In latest results, chairman John Breheny said: “Our group feel more positive about the future than it has done for many years.
“We have reduced cost at all levels, particularly with regard to overhead, we have made significant investment in new plant which inproves efficiency and reduces maintenance cost and we have markedly improved our cash flow and credit position.”
In the year to March 2020, revenue slipped 17% to £94m, generating a marginal profit of £20,000.
The Ipswich-based firm, which employs 421 staff, maintained cash at around £3.4m
Breheny added: “We have a great young team of people, mixed with quality experience that are enthusiastic and are keen to build the group’s future.
“With the government’s continued emphahsis in infrastructure spending and continued pipeline of projects from our highly valued customers, we believe that we are in a very strong position over the next few years.”