Turnover tops £100m at Sewell Ventures
Sewell Ventures, which has several divisions including construction and facilities management, has seen its turnover top £100m in year which some of the group experienced challenging trading conditions.
Publishing accounts on Companies House for the year to 31 December 2017, the Hull-based firm said its turnover hit £100.4m, up from £99.5m in the previous year. Pre-tax profits dropped to £2.4m from £3.8m.
Sewell said: “It has been another positive year despite increasingly challenging trading market conditions for some parts of the group. The business has also continued to invest in pioneering development, build on its growing reputation across the wider Yorkshire region and is excited by opportunities on the horizon in 2018 and beyond. ”
The group committed a six-figure sponsorship backing for the Hull UK City of Culture 2017. “Beyond our sponsorship, the business saw the year as an opportunity for its people to positively engage in cultural activities via things like volunteering days and the creation of the Sewell Choir.” it added.
Its construction division performed well and is anticipating steady growth across West Yorkshire. The firm added: “In East Yorkshire, it has a couple of major development schemes which are going to planning in the summer. If successful, these will impact on the latter part of the year and will provide income streams right across the business.”
During the year, Sewell acquired Illingworth and Gregory (I&G) of Huddersfield. I & G is a long established family-owned business which specialises in maintenance and refurbishments, primarily in health and education, across West Yorkshire.
Its facilities management division strengthened its education portfolio, with further contracts in Hull and York.
Its fuel and convenience stores division saw continued challenges. Sewell Retail – trading as Sewell on the Go – integrated three new subway franchises in 2016 and saw a full year of trading in 2017. “This investment is aimed at widening the retail offer and attracting new customers to help cement it as Hull and East Yorkshire’s leading independent fuel and convenience retailer,” added Sewell.
