Nottingham construction contractor returns to profit

Nottingham-based contractor Clegg Construction is back in the black after posting improved annual results for 2023.

The Lace Market firm, which posted a loss of over £3m in 2022, made a profit of £327,361 for the twelve months to December 31 last year.

Revenue also rose by 7% to just over £77m.

Clegg’s performance would’ve been better had it not been for it having to complete its remaining fixed-price contracts secured in earlier years that, it said, had been affected by “external factors that exerted unavoidable pressure on the cost of work and supply chain resources”.

The contracts in question includes student accommodation schemes, care and residential projects, which had been affected by “market pressures” – as well as subcontractor failures.

Despite this, Clegg says it has a pipeline of work that extends into 2025 in the defence, education, residential, care, leisure and commercial sectors with values ranging from £5m to £35m.

Clegg employed 66 people over 2023.