Building firm reports profits of more than £5m for last year
One of the UK’s largest privately building firms Bolton-based Seddon has reported rising group turnover and profits.
The company’s results for last year show a pre-tax profit of £5.3m on a turnover of £215.7m.
The figures mean turnover and profits at the group have risen for three years in a row.
The 2017 profit represents an increase of 4.1% on 2016’s figures and compares to a profit of £2.45m in 2015.
Group chief executive Jonathan Seddon described the figures as ‘satisfactory’ and said they represented continued, sustained growth for the company.
Seddon employs more than 750 people and has been an established business for more than 120 years.
It provides integrated property services for customers across the North West and Midlands regions in both the public and private sectors, and currently works across multiple industries including housing, care, education and retail.
The group also has a thriving homes-building division.
Mr Seddon said: “Our strategy to have multi-sector development and a construction company is proving successful.
“We’ve developed our operating modelaround our customer’s needs, to provide a full range of services including build, refurbishment, extension, maintenance and compliance.”
In support of this, in 2017 the business acquired North West-based SP Smith Electrical Contractors Ltd and bolstered its senior management team with a number of key appointments in both operational and support service roles.
Mr Seddon added: “We have continued to bring forward developments on the commercial and healthcare fronts, in many cases with joint venture partners, and these projects require us to draw on the skills and experience from every area of our group of companies.”
He said that house sales remained robust and that while this year will see a dip in unit numbers, Seddon’s land acquisitions in 2018 will boost the pipeline significantly over the coming years.
Alongside the investment made into operational resilience, the business also undertook a significant rebranding exercise, launching a new look and feel to the Seddon brand, in January 2018.
