Seddon Construction sails through choppy waters as profits rise
SEDDON Construction, the Bolton-based group, defied tough conditions in the sector to grow turnover and profits by 5.9% and 7% respectively.
The business, which recently separated from the main Seddon Group as part of a major reorganisation, said prospects for the coming year are positive thanks to new contract wins.
Operations director Peter Jackson told TheBusinessDesk.com that sales and profits for 2013 are expected to rise by around 5% this year, and there is good visibility for 2014 too with orders of £90m on the books already.
Mr Jackson said: “The market remains really tough, but we are seeing pockets of positivity. Activity is strongest in housing, particularly social housing, while we are also seeing some more orders in health and education. The commercial market is still difficult, particularly in offices.
“We have a really strong balance sheet and we have continued to invest in skills and in people and we have been accepted on to more than 50 local authority and social housing frameworks which has been a really important source of work for us. We’re family-owned and have an established name as an ethical company and that has helped us through some pretty choppy waters.”
Turnover at the group in 2012 rose 5.9% to £161.1m, while profits rose 7% to £1.9m. 2012 saw the 75th anniversary of the first time apprentices were hired by the company, and having set out to mark this milestone by hiring 75 apprentices, such was the quality of the applicants that 87 were taken on, 26 more than in 2011.
Mr Jackson said the group is expecting to grow revenues and profits by 5% this year. Recent contracts wins includen a £3m brain injury facility in Liverpool, a £1.8m extension to Bolton Sixth Form College and £10m-worth of housebuilding schemes for Manchester-based social housing company Great Places Housing Group.
Seddon Construction employs around 800 people and has offices in Stoke, Birmingham and Bristol. It is owned by Christopher Seddon, a third generation member of the dynasty which was founded in 1897, and his family.
In April the owners of the Seddon Group, comprising the third and fourth generations, decided to split break up forming three separate independent business.
The new business structures are: Seddon Construction and Seddon Homes, owned and led by Christopher Seddon’s family; Seddon Property Services, which will rebrand to Novus Property Solutions, and Seddon Estates, which becomes SHS Estates, owned and led by John Seddon’s family and Seddon Engineering Holdings owned and led by George Seddon’s family.
