Ambitious Salford contractor plans to double its revenues
Northwest contractor Manchester & Cheshire Construction has revealed plans to double its turnover in the next two years.
The Salford-based firm saw turnover in the 12 months to 30th September 2015 increase by 21% from £8.55m to £10.4m.
The highlight was the largest contract in the firm’s 44-year history – a £6m project to refurbish and remodel the University of Manchester’s Samuel Alexander Building, which houses most of the School of Arts, Languages & Cultures. Manchester & Cheshire began work at the site in June and has a scheduled completion date of July 2017.
Managing director Dave Lowe said improving market conditions and high levels of repeat business had helped the company. The family-owned business is targeting revenues of £12m this financial year and £20m by 2018.
Mr Lowe said: “We are on track to achieve these goals as we target larger projects and seek to secure places on more frameworks to add to those we currently hold, such as Salford City Council, the University of Manchester, Cheshire East Council and Royal Mail.
“Our investment in a new development division is also beginning to bear fruit. In addition, the quality of our workforce has been greatly enhanced by a policy of targeted recruitment.
“The new financial year has begun strongly, with a 17% rise in turnover during the first quarter, and we remain confident for the future.”
Since the financial year-end, the firm has appointed business growth adviser Peter Collins as non-executive chairman and unveiled an alliance with a Chinese developer, Chongqing Jinstar Real Estate Development Company, to buy sites for residential schemes in Greater Manchester.
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This article was published on 8 Jan 2016 (last updated on 8 Jan 2016).