Clugston Group, the privately owned group of companies with interests in construction, facilities management, logistics and property development, has announced a healthy increase in turnover of 9% to £252.9m from £231.2m – the highest in the Company’s 78 year history, with a pre-tax profit of £3.3m for the year to 31 January 2015.
The construction division experienced an increase in turnover of 5% from £136.7m to reach £143.3m, the fourth consecutive year of growth. This was led by increased activity in the core market of energy from waste, where the division has significant experience and expertise working on projects across the UK, with substantial progress made on major schemes in Leeds, Wilton, Shropshire and Oxfordshire.
The division also stepped up production levels in the education sector completing numerous school, college and university projects, whilst commencing work on the Humber University Technical College, one of a new wave of state schools designed to increase vocational skills. Several major regional projects also commenced during the year and Clugston’s recently established West Midlands office secured key contracts including a new facility for Birmingham Dogs Home and a retail scheme in Cannock.
Meanwhile, facilities management activities increased with the addition of new contracts in the industrial service sector.
The Group’s logistics division, achieved another year of growth as turnover increased 16% from £13.2m in the previous year to £15.3m – the highest level for the business in over a decade.
Over £2m of fleet investment was made during the latter half of 2014, including the introduction of 15 low emission and fuel-efficient tractor units. Growth focused on diversifying into new markets including petroleum operation and the food market, whilst the steel and cement market remained steady.
Clugston’s property division also performed well, seeing a continued upturn in a number of its key sectors, with particular growth in pre-let and refurbishment opportunities. Activity continued on a range of projects including Turbine Business Park in Sunderland which has seen increased interest from potential occupiers. In addition, joint venture company, Brayford Partnership Limited completed a contract for the sale of land for the development of over 400 student accommodation rooms at the University of Lincoln.
Stephen Martin, Clugston Group Chief Executive said,
“We are delighted once again to announce such positive financial results, which played no small part in us appearing in the recent London Stock Exchange’s ‘1000 companies to Inspire Britain’, The Sunday Times Top Track 250 and Yorkshire’s Fastest 50. I would like to thank everyone across the Group for their continued hard work and dedication.”
“Whilst the Group operates in highly competitive markets with supply generally exceeding demand, we remain confident for the future. Our focus on delivering a safe and efficient high quality service through the team’s continued hard work and commitment gives us confidence in our ability to further deliver sustainable profits in the years ahead.”