The Stockport-based group lifted revenue by 45% for the year to 30 April 2025, helped by three new acquisitions that brought in £301m of extra revenue.

Even stripping those out, the group still grew organically by 11% across its utilities and energy divisions. Its rapid expansion saw headcount swell to 1,980 staff, up from 1,113 last year.

Pre-tax profit jumped to £58m from £44m as the group pushed deeper into energy transition projects and cleaned up legacy issues in its power and telecoms divisions.

Operating margins nudged up to over 12% buoyed by the acquisition of Scottish civils contractor R J McLeod, the exit of a loss-making power contract and the easing of last year’s fibre rollout slowdown.

Wins for group companies included the VMO2 fibre maintenance contract, Northern Powergrid’s framework, and major energy transition packages delivered jointly by OCU Energy and R J McLeod.

Michael Hughes chief executive officer said he saw huge long-term growth in energy transition, digital connectivity and regulated utilities, with further acquisitions firmly on the radar.

“Operating in stable markets characterised by strong tailwinds and a committed spend profile has allowed us to concentrate on strategic growth areas.

“This operational stability enables us to invest in innovative technologies and practices that drive productivity and efficiency across our operations.

“These investments are crucial as they support our continuous improvement and help maintain our competitive edge in rapidly evolving marketplaces.”

Consolidated accounts for the private equity backed OCU main holding company OAT Topco reported a £64m pre-tax loss (FY24: loss of £31m) after £65m of non-cash goodwill amortisation, net finance costs of £69m (FY24: £44m) and exceptional items of £29m (FY24: £4m).