Another record year for fit-out firm
A Leicester interior fit-out contractor has reported a fresh set of record breaking results.
EE Smith Contracts, which marked its 125th anniversary last year, employs over 300 staff at its headquarters in Leicester.
The business has posted the highest annual revenues in its history for a second successive year – £75.1m to the year ending March 31, 2023.
The firm has spent the last year working on multiple prestigious developments, including the luxurious Peninsula London hotel alongside Hyde Park Corner and Wellington Arch, and the completion of two super-prime London residences.
EE Smith Contracts has added 18 new apprentices during the last financial year.
The business says it has reduced carbon emissions by 30% over the last two years despite a material growth in activity and is aiming to further reduce its carbon consumption in the next 12 months.
Neil Bottrill, managing director of EE Smith Contracts, said profits have returned to pre Covid-19 levels despite the business absorbing significant building products inflation in the year due to, now completed, fixed price contracts.
He said: “When viewed against the continuing headwinds of material and labour inflation, as well as huge increases in energy costs, this last 12 months has been a financial success and one to be very proud of.
“We have had the pleasure, and challenge, of carrying out work in what can only be described as the very pinnacle of the super-prime fit-out market, both in the residential and hotel sector in London.
“This underlines the fact that our skillset, drive and attention to detail continues to attract the elite of the fantastic industry that we are in.
“Our apprentice programmes continue to prosper and are producing excellent results. We are actively producing our next generation of highly skilled joiners, supervisors and managers. Our schemes continue our underlying philosophy to ‘train and retain’ our skill base because our workforce will always be our greatest asset.
“We have a promising year ahead with the excitement of handing over the largest project in our history at The Peninsula London hotel this summer, and we will also be starting work on some phenomenal new schemes which complement our existing portfolio.”
Neil Simpson, finance firector at EE Smith Contracts, added: “With the challenges of Brexit, the pandemic and Russia’s invasion of Ukraine over the last five years, we have seen an extended period of uncertainty for UK industry.
“The strength of our markets, our continuing focus on client satisfaction and our relentless hands-on approach have allowed our business to grow significantly in size and capability against this testing backdrop.
“Due to high client satisfaction, we have a continuous stream of new business prospects from previous clients or their professional advisors.
“The company is well set to continue to grow in the coming years, having retained surplus profits and further strengthened our robust balance sheet.
“I am excited to see what the business can deliver once freed from the external challenges.”
