Latest results for the year to December 31 2024 show pre-tax profits up to £5m from £3.1m last time as turnover ticked-up to £265m from £261m.

The privately-owned firm more than doubled its cash balance to £36m the year end – the highest ever on record.

Radcliffe is optimistic about future prospects with £2bn worth of visibility in the forward order book.

He said: “We’ve made real progress as a business over the past few years as we fundamentally repositioned our group to target the most attractive segments of the market, and we’re in a really good place right now – which, many would argue is at odds with the broader industry narrative that suggests challenging trading conditions are persisting.

 “During the first half of 2024, we closed out the majority of contracts that had been impacted by the aggressive rise in cost inflation over the previous two years, and in the second half of the year, every division of the group performed exceptionally well.

“With liquidity at an all-time-high, expanding gross profit margins, and a business plan delivering as intended, our group is well-positioned for continued success, with 2025 set to show an even greater improvement in profitability.

 “That being said, we are certainly not being complacent – we must continue the relentless execution of our group strategy – a strategy that saw us through the challenging times during and after the pandemic.

“This, coupled with our prudent approach to working capital management, sensible work winning strategies, and quality and safe delivery, will provide a solid foundation for a prosperous future.”

Radcliffe added: “Our strategy of focusing on resilient market segments has served us well in recent years, culminating in a headline order book exceeding £2 billion. Building on this momentum, we are actively pursuing additional opportunities within our core markets and anticipate continued growth in both turnover and margins into the future.

“Our long-term vision is clear and we are strongly positioned to navigate the ups, downs and challenges that all businesses face, particularly in the construction industry.

“I’m genuinely proud of the dedication shown by everyone in the business – their incredible hard work, technical brilliance and laser focus on delighting our clients has helped shape the strong position we are in today. And, as ever, we are enormously grateful to our valued clients and our loyal supply chains for their continued support.”