An expert civil engineering specialist has stated its organization technique is strong enough in spite of suffering a dip in earnings.
Ipswich-based One Group Construction stated it was “exceptionally happy” with its outcomes for the year to 31 December 2023, as it indicated its “general company strength”.
It published a pre-tax earnings of ₤ 5.5 m for the year, compared to ₤ 7m in the previous year. Turnover did increase from ₤ 164.5 m to ₤ 166.8 m, which it explained as “another set of strong combined outcomes”.
One Group included that a person of its “essential strengths” is its sector variety. Work has actually consisted of jobs consisting of schools and highways.
“While our organizations are all building and construction and logistics associated, separately they operate in various particular sectors,” the company stated in its accounts. “This large customer base guarantees we are not overcommitted to any specific market and has actually assisted us attain another set of strong combined outcomes.”
The company forecasted that the development of its freight volumes and warehousing centers will even more improve its strength. One Group is a holding business for 9 subsidiaries operating in the freight and building and construction sector.
According to its accounts, its operate in the civil engineering sector represented around 65 percent of its general work, while operate in the structure and glazing markets represented 19 and 8 percent respectively.
The accounts likewise exposed that a person Group Construction had actually secured bank overdrafts worth ₤ 11.9 m, which are due at the end of 2024. At the end of 2022, those overdrafts were valued at ₤ 11.4 m.
One Group Construction was the 99th most significant professional in the current CN100 list of the 100 most significant building and construction specialists in the UK. The minor boost in turnover would take One Group as much as 97th area in the table.
