Seddon Solutions reports impressive first year figures

CONSTRUCTION firm subsidiary Seddon Solutions has reported turnover up to £190m in its first full year financial results since restructuring.

In April 2013, the £300m turnover Seddon Group – which has operations in Birmingham and Stoke-on-Trent – announced it would divide into three separate businesses, each owned and led by a branch of the Seddon family.

The newly formed Seddon Solutions group (Seddon), headed up by managing director Jonathan Seddon, says the revenue figure is 3% on the previous year in its first full year.

It is the parent company of Seddon Construction, Seddon Housing Partnerships, Seddon Care Partnerships, Seddon Homes and Seddon Developments. 

The company, which employs more than 700 staff, announced pre-tax profits of £1.4m for 2014 as the sector recovers from the recession.

Despite tough trading conditions, Seddon has continued to invest in training, with 57 directly-employed apprentices and it sees future talent as the key to its future prosperity.

Seddon chairman Rod Sellers said: “We are in a strong position as the sector recovers from one of the deepest recessions the country has ever seen.

“As a family-owned company we have been able to ring fence our training, when many of our competitors have slashed budgets to protect profits.

“Where many are now struggling to train to meet contract demands, we have steadily increased our workforce and are now in strong position as the market recovers.”

The year to December 2014 saw the construction, maintenance and development company focus on building a blended portfolio of projects.

Seddon has diversified into new commercial markets delivering projects for the Co-operative Group, Muse Developments and Bolesworth Estates.

The Government’s Help to Buy scheme boosted sales for Seddon Homes, with new home sales increasing by 18.5% to £30.6m in 2014.

Sellers added: “In the financial year to December 2014 we have concentrated on protecting the strong balance sheet with net assets of £54.3m and £3.7m cash being generated from operations.”