Pre-tax profit for 2024 came in at £8.1m, just below the prior year’s £8.4m, on turnover of £100m compared to £130m in 2023.

During the year management maintained a disciplined cost base helping to lift operating margin to 6.5%, from 5.6% in the prior year.

Managing director Steven Smith said Benniman had seen activity picking up this year, with contract wins driving turnover back towards 2023 levels.

He said: “The company has excellent long term relationships with many of the largest development companies within the UK and has identified future opportunities due to the anticipated demand in the industrial and logistics market to meet the requirements of online retail platforms and storage.

“As a result, the company now has a significant pipeline which should guarantee a stable platform well into 2025 and beyond.”

The previous year’s slowdown saw cash reserves slip back to £37m (2023: £55m).