Seddon Construction returns to profit
Seddon Construction returns to profit
Abstract
Pre-tax profit recovered to £2.1m after revenue jumped 27% to £166m last year. Last month Seddon Construction secured its first major tender success on the Sellafield nuclear clean-up project. The Bolton-based builder said it was maintaining a conscious limit on the number of large-scale general construction projects it undertakes in the present inflationary climate. To improve risk management, the construction business is targeting a more diverse workload.
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The recovery last year followed a strategic decision to maintain a sizeable pre-construction and bid resource during the Covid lockdowns. This paid off as pre-tax profit recovered to £2.1m after revenue jumped 27% to £166m last year. CEO Jonathan Seddon said: “Our pipeline of work remained strong throughout 2021, which supported the company ethos to maintain a stable overhead base, but we continued to face many delays in moving projects forward into the construction phase, particularly wit...
The recovery last year followed a strategic decision to maintain a sizeable pre-construction and bid resource during the Covid lockdowns. This paid off as pre-tax profit recovered to £2.1m after revenue jumped 27% to £166m last year. CEO Jonathan Seddon said: “Our pipeline of work remained strong throughout 2021, which supported the company ethos to maintain a stable overhead base, but we continued to face many delays in moving projects forward into the construction phase, particularly wit...
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While Rydon Construction suffered a £2.1m pre-tax loss set-back, the overall group performance was buoyed up by Rydon Homes, which contributed £3.7m, and disposals of the London and South West design and build businesses. These two businesses, which were sold for £654,000, have now been rebranded Real Construction by the new owners. As a result, Rydon Group delivered a £6.1m pre-tax profit in the year to September 2021, after previously reporting a £2.5m loss. Overall revenue slipped back...
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Revenue restored to peak levels achieved 10 years ago
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