Annual revenues at Manchester & Cheshire Construction have topped £10m for the first time, fuelled by improving market conditions and bigger projects.
The firm’s turnover in the 12 months to September 30, 2015 increased by 21 per cent from £8.55m to £10.4m.
The highlight was the largest contract in the firm’s 44-year history – a £6m project to refurbish and remodel the University of Manchester’s Samuel Alexander Building, which houses most of the School of Arts, Languages and Cultures.
Manchester & Cheshire began work at the site in June with a scheduled completion date of July 2017.
Major projects completed during the year included refurbishments of Manchester Museum and the Whitworth art gallery, and the construction of the Star Pavilion, a new venue for lectures, workshops and events at Cheshire observatory Jodrell Bank.
The firm also completed a £150,000 extension and upgrade to its headquarters, while staff numbers increased by six to a record 55.
Managing director Dave Lowe said improving market conditions and high levels of repeat business had helped the company achieve its strong performance.
Manchester & Cheshire is targeting revenues of £12m this financial year, and £20m by 2018.
‘We are on track to achieve these goals as we target larger projects and seek to secure places on more frameworks to add to those we currently hold, such as Salford City Council, the University of Manchester, Cheshire East Council and Royal Mail.’
‘Our investment in a new development division is also beginning to bear fruit. In addition, the quality of our workforce has been greatly enhanced by a policy of targeted recruitment.’
‘The new financial year has begun strongly, with a 17 per cent rise in turnover during the first quarter, and we remain confident for the future.’
This story was featured in the Manchester Evening News.