Caddick Construction Aims for £400m Turnover After Record Rebound

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Caddick Construction is forecasting a turnover of £400 million for the current financial year, following a 12 percent rise in revenue to £356 million for the 12 months ending August 2024. Pre-tax profits increased by 13 percent to £8.3 million, driven by strong performance across its four operating regions and strategic leadership changes. With 87 percent of the projected turnover already secured, the company enters the new fiscal year with a high degree of certainty.

Regional and divisional insights underscore expansion

Growth was bolstered by the company’s expanding regional footprint. The Midlands office, opened during the year, generated £30 million in turnover and now operates as a separate subsidiary.

In the North West, revenue climbed 13 percent. Profit margins declined, however, due to the absence of a high-margin contract that had influenced results the previous year. The region remains a key part of the company’s broader strategy.

The civil engineering division also reported progress, with turnover increasing by 17 percent to nearly £16 million. While profits remained stable, a heavy reliance on two national housebuilders, accounting for 91 percent of work across four contracts, has prompted a plan to diversify the client base.

New business units signal diversification

Caddick launched CCL Facades to strengthen its service offering and widen its revenue sources. The new division generated £9.5 million in turnover and £600,000 in pre-tax profit in its first full year. It delivers services to both internal projects and third-party clients.

Caddick reported year-end cash reserves of £32.8 million, reinforcing its liquidity position. The order book grew by 7 percent to £750 million, with £347 million scheduled to convert during the current financial year.

The wider Caddick Group, which includes property ventures such as Moda, reported a pre-tax profit of £29 million on revenue of £604 million. Although profits were down 18 percent, revenue grew by 5 percent.

This broader structure supports construction operations and allows Caddick to integrate more closely with development initiatives, enhancing control across the project lifecycle.

Sources:

• Construction Enquirer