Record year for property and construction group
Property and construction group Caddick has seen and profits and turnover soar in a record-breaking year for the company.
In the 2023/24 financial year, the family run company posted a gross profit of £70m a rise of 23% on the previous year, while turnover hit £606m – its highest ever. Net assets grew to £202m.
The group, which includes Caddick Construction, Caddick Developments and Moda Living, said it has delivered ‘significant’ placemaking projects across the country. Despite market uncertainty, Caddick said this has been achieved by ‘engaging with the public and fostering strategic partnerships between public and private sectors.”
Paul Caddick, chairman at Caddick, said: “I’m incredibly proud of the results we’ve achieved this financial year, with a strong turnover reflecting the hard work and dedication of our staff as we continue to build our pipeline and further invest in our people. Our people are at the heart of everything we do, and these results are a testament to the collective effort across the business, underlining our purpose of creating thriving communities.”
Key milestones for Caddick over the past year include the opening of new headquarters for the construction division in Wakefield, and the team having been appointed as principal contractor on two major regeneration projects in Birmingham – including Stone Yard, a 995-apartment project for Moda Living
Elsewhere, the developments team achieved consent from Leeds City Council for South Village, a £1bn regeneration project that will deliver 2,000 homes, 450 hotel beds and 700,000 sq ft of commercial space in the city centre
Moda Living launched three build-to-rent neighbourhoods with debut communities in Glasgow and Brighton and Hove, plus a second location in Birmingham
Johnny Caddick, chief executive of Moda Living, said: “We’ve had a very strong year across the Caddick group of businesses as we continue to expand our industry expertise and developments pipeline, while tapping into new living sectors. We’re excited to deliver inclusive and accessible BTR schemes, that don’t just reflect our long track record of award-winning operations but also enable communities across the country to thrive.”
Over the past year, the Caddick group of businesses has also extended its commitment to having a positive impact in the places where it operates, following the appointment of Jessica Herman as group head of ESG and sustainability.
Herman will lead the group’s ‘places for life’ strategy, originally launched in 2023, aimed at ensuring the projects across the different arms of the business will prioritise the three key ESG areas – communities, environment and business – to create sustainable places for current and future generations.
