Esh Group, a leading North of England contractor, has reported an impressive 80% rise in operating profits, reaching £5.2 million for 2024, up from £2.9m in the previous year.

The privately-owned firm also saw its cash balance more than double, closing the year at a record £36m.

Chief Executive Andy Radcliffe attributed the strong performance to a strategically designed business model that targets sectors with robust and sustainable demand. He highlighted the group's forward order book, which exceeds £2 billion, providing long-term confidence in future revenues. Mr Radcliffe noted that the second half of 2024 saw exceptional performance across all divisions, following the successful conclusion of contracts impacted by cost inflation in the first half. He stated: "With liquidity at an all-time-high, expanding gross profit margins, and a business plan delivering as intended, our group is well-positioned for continued success, with 2025 set to show an even greater improvement in profitability."

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Turnover for the year increased by £4m to £265m, with improvements in both its contracting and development divisions contributing to an 8% increase in gross profit margins. Esh Group continues to maintain a balanced portfolio across local authorities, utility and environmental companies, registered affordable housing providers, and the private housing sector. This diversified approach helps to mitigate the cyclical nature of the construction industry.

Further solidifying its order book, the 800-strong contractor was recently appointed as sole delivery partner for Northumbrian Water Group's (NWG) wastewater networks planned and reactive repairs and maintenance framework, valued at £160m. This new contract, combined with existing frameworks for the AMP 8 programme, positions Esh for significant growth in the wastewater and environmental sector.

Current high-profile projects include the Tyne Bridge Restoration and Stockton Waterfront Urban Park in the North East, and the Ripleyville regeneration development and the refurbishment of Hull’s Drypool Bridge in Yorkshire. The group has also commenced three new land-led affordable housing projects in Gateshead, Bridlington, and Hull, collectively worth £50.5m, supporting registered providers in achieving their new build homes targets.

Esh Group was also recognised by Deloitte as one of the UK's Best Managed Companies for 2025, an achievement Mr Radcliffe credited to the skill and dedication of the business's talented team. He concluded: "Our long-term vision is clear and we are strongly positioned to navigate the ups, downs and challenges that all businesses face, particularly in the construction industry."