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Glencar maintains growth trajectory

14 Dec 21 Big shed construction specialist Glencar is maintaining its growth trajectory with a 66% increase in revenues and a near doubling of employee numbers over the past year.

Glencar built this Ocado distribution centre in Andover, a typical project for the company
Glencar built this Ocado distribution centre in Andover, a typical project for the company

In the year to 30th September 2021, Glencar Construction made a profit before tax of £2.3m on revenue of £160.4m.

Glencar was incorporated in 2015 by Eddie McGillycuddy and Chris Gleave, who previously worked together at McLaren Construction before setting up Glencar in St Albans.  They are supported by other former McLaren colleagues, including Roy Jones and Peter Goodman.

In the year to 31st March 2019, Glencar Construction turned over £22.1m. It then changed its financial year-end and  in the 18 months to 30th September 2020 it turned over £144.8m, making a pre-tax profit of £2.8m.

The latest set of  results represent a 66% revenue increase, on an annualised basis, and a 23% rise in pre-tax profit. Average contract value increased by 40% to £9.5m, thanks to notable logistics schemes in Harwell, Andover and Bicester. In the year, 61% of work was repeat business and 10 new clients came into the business.

Average headcount reached 108 this year, up from 60 in 2020 and just 26 in 2019.

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Glencar managing director and majority owner Eddie McGillycuddy said: “Glencar has enjoyed another stellar year producing some outstanding results that we can all be proud off. Looking forward, we are targeting continued growth, with a committed forward order book in excess of £300m.

Managing director and majority owner Eddie McGillycuddy
Managing director and majority owner Eddie McGillycuddy

“This growth will be driven by repeat business with our key client base as well as winning work with new clients from established and well reputed backgrounds.

“Glencar continues to invest in its people and infrastructure to support our rapid growth. We have hired over 80 new employees in the year, of which three are members of the Senior Leadership Team. The company opened a new office in Manchester and moved to larger premises in Birmingham, as part of the regional growth plan.

“We have identified other growing sectors and will seek to expand into these, taking advantage of the opportunities available. We will focus investment on our internal processes, making sure that they are resilient enough to provide our customers and supply chain with the best service possible.”

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