Structure Tone close to breakeven after years of losses

Aaron Morby 1 year ago
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Fit-out specialist Structure Tone has returned to almost breakeven point after five years of losses.

Structure Tone is now focused on major building refits like the former FT Building in London for advertising giant WPP
Structure Tone is now focused on major building refits like the former FT Building in London for advertising giant WPP

Revenue jumped by 57% to £121m last year but the firm still recorded a small £130,000 loss, albeit after taking into account significant restructuring costs.

Increased activity saw the average headcount rise 18% to 124 staff.

After suffering significant project losses in the data centre market, the London business unit is now concentrating on its core markets of interior fit-out and refurbishment.

This has seen major project successes like its present expansion and overhaul of the former FT Building on London’s South Bank for global marketing and communications firm WPP.

Where data centre work is taken on, Structure Tone UK plans to work with its Irish business StructureTone Dublin, which remains a leader in the market.

With the fit-out market growing, Structure Tone closed out 2022 with a secure forward order book in place of £125m.

Caroline Williams, who became finance director in August last year, said the strategic plan was steadily to increase turnover by £14m to £135m in 2023 and then to £145m in 2024.

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