CADDICK CONSTRUCTION REPORTS INCREASE IN PRE-TAX PROFITS

Caddick Group, the Yorkshire-based, family-run construction and property development business, has reported a record turnover of £226 million in its annual report for the year ended 31^st August 2018, with pre-tax profits of £11million. Group-wide turnover grew by 49% from last year.

Caddick Construction and its North West office, Caddick Construction (NW) Ltd, together reported turnover for year ending 31 August 2018 at almost £88 million.

Caddick Construction Ltd reported a 20% increase in pre-tax profit to £3.989million.

The company’s North West subsidiary has already secured around £33 million of projects for the forthcoming year across the residential, industrial/logistics and automotive sectors, including the flagship BMW, MINI and Jaguar Land Rover showrooms at TraffordCity.

Andrew Murray, Managing Director of Caddick Construction, said: “The effect of Brexit on the construction sector has been a topic of discussion within the industry for many months and has affected the sector as a whole, with decision-making on building projects often being delayed.

“Despite this, Caddick Construction has continued to increase its profit and, along with the wider Group, has broken the £200million turnover mark for the first time. As a diverse property business, the Group is well positioned to ride today’s uncertain economic environment and has a strong pipeline in place for the coming year.”