Caddick Construction Group, a UK-based company, has reported a significant 12% growth in annual turnover, reaching £356m ($468.4m) for the year ending 31 August 2024.
This increase in revenue has propelled the company's pretax profit to £8m, with a stable margin of 2.4%.
The company's order book has also seen a 7% growth, amounting to £750m, and year-end cash has risen to £32.8m from £31.9m. With no debt on its books, Caddick Construction Group stated it is well-positioned for the future.
The results are part of the 2023-24 figures for the wider Caddick Group, which comprises Caddick Construction, Caddick Developments, and Moda Living.
The group reported a consolidated turnover of £606m, marking a 23% increase in gross profit to £70m and net asset growth to £202m.
The company has expanded its project pipeline across various UK regions, securing key projects such as the Schneider manufacturing facility in Scarborough and the expansion of Loreto Sixth Form College in Manchester.
Caddick Construction has also been active in the residential and industrial sectors, with projects such as Upper Trinity Street in Birmingham and Max Spielman's new warehouse in Wirral.
The 2023-24 annual results for Caddick Construction Group also incorporate the performance of its two specialist subcontracting divisions: Caddick Civil Engineering and CCL Facades. Both businesses reportedly continue to demonstrate sustainable growth in turnover and profitability.
Jessica Harmen, Caddick Group's head of environmental, social, and governance (ESG) and sustainability, is spearheading the group's 'Places for Life' strategy, which focuses on the key ESG areas of communities, environment, and business.
Caddick Construction Group managing director Paul Dodsworth said: “The past few years have seen the group achieve significant operational and financial progress. We are determined to work with clients and partners that share our values for quality and as a result, the contracts within our order book reflect the bidding discipline and risk management now embedded in the business.
“Our strategy is to balance our portfolio between the public and private sectors, growing our education and defence work pipeline alongside our core residential and industrial sectors. This ensures stable profitability to protect our business, our people, our clients and our supply chain.
“Over the past year, the Caddick Group has also extended its commitment to having a positive impact in the places where it operates. We have made real progress in our scope 1 and scope 2 emissions.”
