For the year ended 31st March 2015, Fastflow Group’s revenue increase by 93% to £48.8m (2014: £25.3m) resulting in pre-tax profit of £4.9m (2014: £700,000).
In May 2014 Fastflow acquired DW Contractors (Oxford) – now DW Support Services – which provides maintenance services to housing associations, local authorities and property management companies in the south of England.
New contracts during the year included four projects on the National Grid’s asset health programme and work on the Heads of Valley A465 gas pipeline project.
Fastflow Pipeline Services started work in April 2015 on Northumbrian Water's AMP6 asset management programme.
Company owner and chairman Neil Armstrong said: “It has been a record-breaking year for the group since its formation in 2005, with significant progress made in revenue and profit growth. We have enhanced our presence in the utility sector and utilised our asset maintenance skills to successfully cross over into social housing and property maintenance.
“The diversification of the business has generated new opportunities and provides a strong platform for future growth. The business will continue generate organic growth and pursue further relevant acquisitions to strengthen our offering."