Henry Construction turnover soars to £377m

Aaron Morby 4 years ago
Share

Fast-growing Henry Construction Projects delivered another big jump in revenue last year to £377m.

Growth is being fueled by a strategic move to take on bigger building projects, transforming the business which in 2015 was turning over £50m.

Pre-tax profit in the year to June kept step with the 25% revenue rise increasing from £10.8m to £12.9m.

This maintained operating margin around 3.6%.

The London and South East building contractor has grown from a small civils, groundworks and reinforced concrete frame specialist into a main building contractor working for private developers and housing associations.

Recently Henry Construction secured a major order for the Arc, a mixed residential and office tower project close to Silicon Roundabout in London for big European property developer Ghelamco.

Henry’s 22-storey Arc project for developer Ghelamco

It also recently secured phase 2 of Guinness Partnerships 900-home Imperial Wharf scheme at Bromley by Bow.

Director Mark Henry said: “The outlook is positive and our order book remains healthy.

“Our progress in recent years, despite challenging economic conditions including Brexit and a pandemic, is a reflection of the strategic focus we have committed to, aimed at meeting customer needs and ensuring that HPLC provides deliverable, quality and safely conducted schemes.”

He said that Henry was aiming to mitigate risks from the rise in materials prices and labour costs from more framework work, where prices are agreed immediately prior to work starting and are index-linked.

The rise in revenue saw net cash jump to £56m from £40m previously.

 

Latest news

Major Building Safety Regulator shake-up to end tower delays

HSE stripped of control and top fire chiefs brought in to fast-track stalled schemes
5 hours ago

Construction comeback to outpace wider economy

Arcadis forecast fueled by spending review optimism
2 hours ago

Hinkley trio sign Sizewell civils deal

Balfour,Bouygues and Laing O'Rourke form Civil Works Alliance for new power station
5 hours ago

£3.9bn data centre plan for Ravenscraig steelworks

Green energy to power massive new steel to silicon AI campus
6 hours ago

Breakthrough on HS2’s second longest tunnel

8.4 mile Northolt to Old Oak Common drive completes
6 hours ago

Neilcott on fast-track to debt-free employee ownership

£22.5m loan nearly paid down after big profit year
4 hours ago

TfL kicks off race for £700m Tube station upgrade

South Kensington and Elephant & Castle top the pipeline list
6 hours ago

Corbyn Plant Hire fleet goes under the hammer

Kit to be sold off by sister firm to collapsed groundworks contractor
5 hours ago

Government wields procurement stick on late payment

New rules would block slow payers from bidding on big public jobs
3 days ago

Hercules buys power line labour firm for £15.7m

Labour supply specialist snaps up Advantage NRG to tap booming electricity upgrade market
3 days ago

Universal bid to fast-track planning for theme park

Entertainment giant eyes 2026 start at Bedford site
3 days ago

Developer Breck to transform former Ibstock brick factory

Ravenhead works to become 300-home development
3 days ago

SP Energy Networks awards contracts worth £1.4bn

First round of awards under £5.4bn national electricity grid upgrade programme
4 days ago

Travelodge to convert Liverpool Street office building

Office-to-hotel conversion in City of London
3 days ago

Plans lodged for 1m sq ft City of London office

Barbican landmark building will reuse 40% of existing structure
4 days ago

PTSG acquires roofing specialist HD Sharman Group

Premier Technical Services Group expands building maintenance division
3 days ago

Balfour Beatty lands £833m carbon capture power plant job

Work to start later this year on Teesside carbon capture gas-fired power station
4 days ago

Svella agrees deal to save Cubby Construction

Solvent purchase set to save 214 jobs and protect supply chain
4 days ago

J Coffey holds line on margins despite £52m revenue slide

Pre-tax profit down 14% but firm eyes strong pipeline to bounce back
4 days ago

Consultants called up for £2.3bn NHS SBS panel reboot

Market asked for views ahead of next-gen procurement rollout
4 days ago

Hochtief launches new UK data centre division

German business model to be introduced for UK construction
5 days ago

Construction skills body launches with 100,000 worker target

Industry to work closer with Jobcentres to find new talent
4 days ago

Kier lands £42m Midlothian school and community hub

Contractor strengthens presence in Scotland with big education job
4 days ago

BESA audit blitz sees 14 specialist contractors suspended

Building engineering services trade body cracks down on standards
6 days ago

Engineers pull-off 220m HS2 viaduct slide in 3 days

Five-structure Northants sequence ends with 1,300t deck slide - video
5 days ago

Managing Director moves to advisory role at Shufflebottom

Alex Shufflebottom steps-down after acquisition by Embrace
5 days ago

JV North unveils winners of £500m housing blitz

Consortium gears up to deliver 3,000 new homes across North West
6 days ago

Partnerships builder Keepmoat names new chief executive

Ian Hoad to take reins as Tim Beale steps down after eight years
6 days ago

Ballymore to transform former Crossrail construction site

Limmo Peninsula will be new neighbourhood in East London
6 days ago

Building Safety Regulator chief to step down

Search on to find replacement for Philip White
6 days ago