Seddon Construction has bounced back into the black after reporting a £2.2m loss in 2015.
The building business reported a £1m pre-tax profit last year on revenue up a fifth at £150m.
Overall, Seddon Solutions group, which also includes Seddon Homes, doubled reported profits at £5.1m from revenue from the year up from £170m to £205m in 2016.
Seddon Homes delivered the main profit upswing after raising turnover 11% to £43.5m.
The improvement left the group with year-end cash of £22m.
Colin Graham, group finance director, said: “The group has benefitted from less reliance on the competitive tender market and a continued focus on improvement applied to project delivery and commercial procedures at all levels.
“The outlook for 2017 is positive with a strong order book anf reasonable visibility of profits on current projects.”
Over the year staff numbers remained stable at 720. The highest paid director received £302,000, up 13% on the previous year.
from Construction Enquirer http://www.constructionenquirer.com/2017/05/31/seddon-construction-returns-to-profit/
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