Pochin boss bullish after contract wins
POCHIN, the family property and construction company taken private in a £9m deal this year , has added £10m of contracts to its pipeline since July.
The Northwich-based group says the value of its order book is now £75m. The new projects include a £4m design and build project in Crewe as well as projects across its core regions of Cheshire, North Wales and Liverpool.
Chief executive Jim Nicholson, who led the deal to buy the business, said: “After a period of difficult trading for our entire sector, our reputation for quality and reliability is now paying dividends in the market.
“The main rationale for our recent take-private was to ensure we were able to grow our business in a sustainable way and have more control over the type and location of the projects we undertake. Our future order book shows it was the right decision.
“The news is particularly pleasing given the difficult last few years. In the last financial year (to May 14), we recorded a loss of £4.5m, resulting from losses of £8m as a result of two challenging contracts in the south of England. Aside of these remote contracts, business has been profitable for the construction division, and for property, which recorded a £3.5m profit.
“With a new focus on our core strengths and geographies, an exciting pipeline of new construction projects, some interesting development opportunities and an improving market, we can look forward to an exciting period of profitability and growth,” he added.