Caddick Construction to top £200m revenue this year

Aaron Morby 3 months ago
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The combined construction activities of Yorkshire developer Caddick are on track for £212m revenue this year following a growth spurt.

Chairman Paul Caddick says construction businesses are shifting up a gear
Chairman Paul Caddick says construction businesses are shifting up a gear

After a breakeven year in 2020, the main construction business enjoyed a 46% rise in turnover to £99m, generating £2.6m in pre-tax profit in the year to August 2021.

Much of the improvement was down to the surge in work delivered by the Caddick development division, including works on SOYO in Leeds, an industrial site at Mirfield and Crosspoint phase 2.

The Yorkshire region took several housing jobs for housing associations, a key focus for the future.

The North West region continued to perform strongly taking jobs typically in the £5-£15m value with turnover up just over a third and pretax profit up 53%.

At the same time, the civil engineering division, which works mainly for house builders, saw a bounce back in workload and profitability with turnover up 55%.

Chairman Paul Caddick said the group’s three construction businesses were now shifting up a gear looking to take on larger contracts going forward.

He said: “The current combined forecast for 2022 year-end is £212m of which all but £18m is already secured or completed, with the current combined order book having a further £98m of work already secured falling into the following financial year.

Overall the Caddick Group posted a £17m profit for the year-end August 2021, an increase of 9% on the previous year with turnover ahead 28% to £384m.

Paul Caddick said the group enjoyed a sizeable land pipeline and various sites capable of delivering 16m sq ft of industrial land and over 10,000 homes.

 

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