Caddick Construction Group has posted robust financial results for the year ending 31 August 2024, with annual turnover reaching £356 million, marking a 12% increase on the previous year.

The figures highlight the company's commitment to sustainable growth and reinforce a positive outlook for the wider Caddick Group.

The increase in turnover helped drive pre-tax profits to £8 million, with profit margins holding steady at 2.4%. The group's order book also grew by 7% to £750 million, while year-end cash rose to £32.8 million, up from £31.9 million the previous year. Notably, Caddick Construction Group reports holding no debt, further strengthening its financial position.

These figures form part of the overall performance of the Caddick Group, which includes Caddick Construction, Caddick Developments, and Moda Living. Across the board, the group achieved a consolidated turnover of £606 million, a 23% rise in gross profit to £70 million, and net asset growth to £202 million.

The year has seen significant milestones for Caddick Construction, including the opening of a new headquarters in Wakefield in June 2023 and the launch of its first North East office in Durham. The company also expanded its project pipeline across the Northwest, Cumbria, North East, Yorkshire, and the Midlands.

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Key projects include the new Schneider manufacturing facility in Scarborough, delivered alongside Caddick Developments, and public sector developments such as the expansion of Loreto Sixth Form College in Manchester. In the residential and industrial sectors, Caddick secured major contracts including the first phase of the Upper Trinity Street project in Birmingham and Max Spielman's new warehouse on the Wirral.

The group's performance also includes the contributions of its specialist sub-contracting divisions, Caddick Civil Engineering and CCL Facades, both of which continue to grow sustainably in turnover and profitability, serving both Caddick Construction and third-party clients.

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."

Paul Dodsworth, Construction Group Managing Director, commented: "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 defense 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. The success for future years is underpinned by the year-end order book, resulting from a large number of contract wins across Construction, Civil Engineering and CCL Facades, providing multi-year revenue visibility.

"We are well positioned to continue benefiting from UK Government spending commitments and we are confident in sustaining strong cash generation, especially over the last few years, allowing us to grow and deliver the evolved long-term sustainable growth plan for Caddick Construction Group.

"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."