Winvic Group’s results for the year ended 31st January 2022 show that turnover increased 56% to £1,029m (2020: £659m) and pre-tax profit was £15.6m (2020: £13.9m).
The net cash position improved from £79.4m at the start of the year to £126.4m by the end. The order book stood at £1,685m.
While 2020 was a covid-impacted year, even in 2019 Winvic was only turning over £686m so last year’s growth is not merely a post-covid rebound.
Winvic was established in 2001 by Simon Girardier, Simon Hunt and Dave Ward, who remain co-owners today. Over the past 20 years it has established itself as a builder of commercial warehouse developments and more recently student accommodation and build-to-rent housing – sheds and beds.
But it is also now growing as a civil engineering contractor, not just putting in the infrastructure for industrial parks but also as a contractor on public sector highways frameworks. Winvic delivered its first National Highways project last year.
During the year to 31st January 2022 Winvic completed 28 projects– including 14 million sq ft of industrial space – and secured 46 new projects, including two public sector highways frameworks.
Winvic is now targeting railway industry work. “We have been working on securing the RISQS( Railway Industry Supplier Qualification Scheme) accreditation, to enable us to bid for major rail frameworks and apply for principal contractor licences and to carry out our own works on the strategic rail network for Network Rail,” chairman SimonGirardier reveals in the annual report.
“In the year ahead we will also be working towards IUSO 44001 collaborative working and the Cyber Essentials security assurance standards to ensure we meet the requirements to work on government-led frameworks for both the rail and highways sectors, which will shape the future of the civils & infrastructure sector.
This year’s growth is not expected to be so spectacular. Turnover is forecast to reach £1,195m this year – a more modest 0.16% growth.