Henry Construction turnover soars to £377m

Aaron Morby 2 years ago
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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.

 

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