The regional contractor – where 507 of its 633 employees hold shares – said its long-term commitment to employee ownership and direct delivery underpinned its financial resilience and client satisfaction.

In the year to November, the group’s operating profit also climbed, with margins nudging up from 3.2% to 3.7%, aided by strong performances across its Lincoln, York and Peterborough construction divisions.

Lindum’s model sees profits reinvested in the business and shared with its workforce.

Construction contracting brought in £172m, supported by work in key sectors like education, healthcare, industrial, retail and social housing. Direct labour was used wherever possible, helping keep projects on time and to budget.

In housing, Lindum Homes delivered stable returns despite challenging market conditions, with continued progress at its Washingborough, Welton and new Waddington (Heath View) sites.

The JV arm was buoyed by the delayed completion and sale of a B&M store in Mablethorpe.

Lindum ended the year debt-free, with increased cash at bank of £73m and a stronger balance sheet.

The group’s co-chairmen Freddie and Edward Chambers – in their first full year following their father David’s retirement – said the employee-owned structure was “fundamental” to the business and central to its long-term outlook.

Looking ahead, Lindum flagged a tougher market and greater competition but said its order book, decentralised structure and engaged workforce left it well placed to push on in 2025.