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Solid growth for Caddick Construction

11 Apr 17 Caddick Construction has reported a 25% rise in profits on the back of several significant contract wins.

Caddick Construction managing director Andrew Murray
Caddick Construction managing director Andrew Murray

The Yorkshire based business reported pre-tax profits of £2.5m in its report to Companies House for the year ended 31st August 2016, a rise from £2m in 2015.

The company also generated a 17% rise in turnover on the previous year, to £81m.

Increased profitability is largely down to Caddick Construction’s involvement in a number of regeneration projects such as Project Jennifer and Liverpool Shopping Park in Liverpool. Caddick's automotive portfolio was also boosted in 2016 with projects for Jaguar Land Rover, Vauxhall and The Car People.

The outlook for the current financial year is strong, with £92m of turnover forecast – another 14% rise – with a current forward order book of £70m.

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Andrew Murray, managing director of Caddick Construction, said: “Our strong results are ultimately down to the hard work of our teams on the ground. It’s been a fantastic year for us with a number of projects delivered on time and to budget and some really exciting sites starting to take shape.

“80% of our business is from repeat clients, which is testament to our commitment to delivering on our promises and our collaborative approach to working with our clients and suppliers. We are now looking forward to an even more successful 2017 with the foundations already laid for a prosperous year.”

Caddick Construction’s parent company Caddick Group, headed by chairman Paul Caddick, declared pre-tax profits of £18.8m for the year to 31st August 2016 on turnover up 58% to £148.4m. In financial 2015 the group made £4.0m profit on turnover of £94.2m. Caddick Group’s 2016 results were significantly helped by its property development businesses, which include the Moda Living private rented sector joint venture with Generate Land.

Caddick Group also owns the Leeds Rhino rugby league club.

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